MUFG Americas Holdings Corp lowered its stake in CVS Health Corp (NYSE:CVS) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,105 shares of the pharmacy operator’s stock after selling 2,281 shares during the period. MUFG Americas Holdings Corp’s holdings in CVS Health were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CVS. Oarsman Capital Inc. lifted its holdings in shares of CVS Health by 25.7% during the 2nd quarter. Oarsman Capital Inc. now owns 49,385 shares of the pharmacy operator’s stock valued at $3,178,000 after buying an additional 10,096 shares during the period. Groesbeck Investment Management Corp NJ raised its holdings in CVS Health by 184.3% during the second quarter. Groesbeck Investment Management Corp NJ now owns 42,923 shares of the pharmacy operator’s stock valued at $2,762,000 after acquiring an additional 27,825 shares during the period. Trellis Advisors LLC bought a new stake in CVS Health during the second quarter valued at about $297,000. DDD Partners LLC raised its holdings in CVS Health by 1.4% during the second quarter. DDD Partners LLC now owns 132,915 shares of the pharmacy operator’s stock valued at $8,553,000 after acquiring an additional 1,835 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in CVS Health by 7.8% during the second quarter. Great West Life Assurance Co. Can now owns 2,419,095 shares of the pharmacy operator’s stock valued at $155,859,000 after acquiring an additional 175,313 shares during the period. Institutional investors own 83.57% of the company’s stock.
CVS opened at $74.00 on Wednesday. The stock has a market capitalization of $76.60 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.01 and a beta of 1.00. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $84.00. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. During the same quarter last year, the business posted $1.33 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. analysts anticipate that CVS Health Corp will post 7.05 earnings per share for the current year.
In other news, EVP Kevin Hourican sold 8,564 shares of CVS Health stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
A number of equities research analysts have commented on the company. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday. Mizuho restated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Royal Bank of Canada cut their price objective on CVS Health to $84.00 and set an “outperform” rating for the company in a research report on Friday, June 29th. Morgan Stanley cut their price objective on CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 3rd. Finally, Leerink Swann set a $80.00 price objective on CVS Health and gave the company an “outperform” rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $86.04.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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