Utah Retirement Systems boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 0.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 196,800 shares of the pharmacy operator’s stock after acquiring an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in CVS Health Corporation were worth $15,449,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Mercer Capital Advisers Inc. acquired a new stake in CVS Health Corporation in the 1st quarter worth approximately $118,000. SRS Capital Advisors Inc. increased its position in CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 734 shares during the period. Cue Financial Group Inc. increased its position in CVS Health Corporation by 3.6% in the 1st quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock worth $213,000 after buying an additional 95 shares during the period. Pettee Investors Inc. bought a new position in CVS Health Corporation in the 1st quarter worth approximately $214,000. Finally, Diversified Trust Co bought a new position in CVS Health Corporation in the 1st quarter worth approximately $229,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold 370,510 shares of company stock valued at $29,460,266 in the last three months. 0.61% of the stock is owned by insiders.
CVS has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price objective on the stock in a research report on Wednesday, May 24th. Cowen and Company restated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a research report on Tuesday, June 13th. ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Leerink Swann set a $90.00 price objective on CVS Health Corporation and gave the company a “buy” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. CVS Health Corporation has an average rating of “Buy” and a consensus price target of $90.35.
Shares of CVS Health Corporation (CVS) traded up 0.42% during trading on Friday, hitting $82.99. The stock had a trading volume of 3,703,715 shares. The stock has a market capitalization of $84.36 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. CVS Health Corporation has a one year low of $69.30 and a one year high of $90.85. The stock has a 50 day moving average price of $78.80 and a 200-day moving average price of $78.96.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. On average, equities research analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
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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.
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