CVS Health Corporation (CVS) Position Cut by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its position in CVS Health Corporation (NYSE:CVS) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 271,757 shares of the pharmacy operator’s stock after selling 11,373 shares during the period. Baird Financial Group Inc.’s holdings in CVS Health Corporation were worth $21,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clifford Swan Investment Counsel LLC boosted its position in CVS Health Corporation by 16.8% in the first quarter. Clifford Swan Investment Counsel LLC now owns 3,627 shares of the pharmacy operator’s stock valued at $285,000 after buying an additional 522 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in CVS Health Corporation in the first quarter valued at approximately $777,000. Oxford Asset Management purchased a new stake in CVS Health Corporation in the first quarter valued at approximately $3,995,000. Bahl & Gaynor Inc. boosted its position in CVS Health Corporation by 1.1% in the first quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock valued at $1,171,000 after buying an additional 167 shares during the last quarter. Finally, First National Trust Co. boosted its position in CVS Health Corporation by 17.0% in the first quarter. First National Trust Co. now owns 22,304 shares of the pharmacy operator’s stock valued at $1,750,000 after buying an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

A number of brokerages recently commented on CVS. Jefferies Group LLC upped their target price on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday. Needham & Company LLC started coverage on CVS Health Corporation in a report on Tuesday, June 27th. They issued a “hold” rating for the company. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. Finally, BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $90.35.

Shares of CVS Health Corporation (NYSE:CVS) traded up 0.64% during mid-day trading on Friday, reaching $83.17. The company’s stock had a trading volume of 7,483,230 shares. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $90.85. The firm has a market capitalization of $84.55 billion, a P/E ratio of 16.57 and a beta of 0.92. The company’s 50-day moving average is $78.92 and its 200 day moving average is $78.97.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at $259,401.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 611,660 shares of company stock valued at $49,492,596. Company insiders own 0.61% of the company’s stock.

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About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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