Ivory Investment Management LLC trimmed its holdings in CVS Health Corp (NYSE:CVS) by 21.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 875,358 shares of the pharmacy operator’s stock after selling 245,900 shares during the period. CVS Health accounts for 11.4% of Ivory Investment Management LLC’s holdings, making the stock its 2nd largest position. Ivory Investment Management LLC’s holdings in CVS Health were worth $56,329,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Camarda Financial Advisors LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $102,000. Kiley Juergens Wealth Management LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $103,000. Quantbot Technologies LP acquired a new stake in shares of CVS Health in the first quarter valued at approximately $103,000. Legacy Advisors LLC raised its position in shares of CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after buying an additional 1,775 shares in the last quarter. Finally, Squar Milner Financial Services LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $122,000. Institutional investors own 83.57% of the company’s stock.
Several research analysts have commented on the stock. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Mizuho restated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Royal Bank of Canada lowered their price objective on shares of CVS Health to $84.00 and set an “outperform” rating for the company in a research report on Friday, June 29th. Morgan Stanley lowered their price objective on shares of 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 shares of 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 issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and an average price target of $86.04.
NYSE CVS opened at $76.91 on Friday. The firm has a market cap of $78.72 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 1.04 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. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. sell-side analysts predict that CVS Health Corp will post 7.05 earnings per share for the current year.
CVS Health Company 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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