Gabelli Funds LLC Trims Stake in CVS Health Corp (CVS)

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Gabelli Funds LLC reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 12.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 847,500 shares of the pharmacy operator’s stock after selling 123,700 shares during the period. Gabelli Funds LLC owned about 0.08% of CVS Health worth $54,537,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Camarda Financial Advisors LLC bought a new position in CVS Health in the 2nd quarter worth approximately $102,000. Quantbot Technologies LP purchased a new stake in CVS Health in the 1st quarter worth approximately $103,000. Kiley Juergens Wealth Management LLC purchased a new stake in CVS Health in the 2nd quarter worth approximately $103,000. Legacy Advisors LLC lifted its stake in CVS Health by 7,100.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Squar Milner Financial Services LLC purchased a new stake in CVS Health in the 2nd quarter worth approximately $122,000. 83.56% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on CVS shares. Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup reiterated a “buy” rating and issued a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Mizuho reiterated a “buy” rating on shares of CVS Health in a research note on Saturday, June 30th. Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, Morgan Stanley lowered their price objective on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $86.04.

In related news, EVP Kevin Hourican sold 8,564 shares of CVS Health stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the transaction, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

CVS Health stock opened at $76.07 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34. The firm has a market cap of $76.24 billion, a PE ratio of 11.36, a P/E/G ratio of 1.01 and a beta of 1.01. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $84.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. equities analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current year.

About CVS Health

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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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