First Manhattan Co. raised its position in shares of CVS Health Corporation (NYSE:CVS) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,805,454 shares of the pharmacy operator’s stock after buying an additional 153,095 shares during the period. CVS Health Corporation makes up 1.5% of First Manhattan Co.’s holdings, making the stock its 10th largest position. First Manhattan Co. owned 0.26% of CVS Health Corporation worth $249,657,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. SRS Capital Advisors Inc. purchased a new stake in CVS Health Corporation during the fourth quarter valued at $120,000. D Orazio & Associates Inc. boosted its stake in CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock valued at $123,000 after buying an additional 400 shares during the period. Elgethun Capital Management bought a new stake in CVS Health Corporation during the fourth quarter valued at approximately $133,000. Sowell Financial Services LLC bought a new stake in CVS Health Corporation during the fourth quarter valued at approximately $140,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in CVS Health Corporation during the fourth quarter valued at approximately $156,000. 81.98% of the stock is owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE CVS) traded up 1.35% during mid-day trading on Monday, hitting $78.10. The stock had a trading volume of 5,949,670 shares. The stock has a 50 day moving average of $78.96 and a 200-day moving average of $79.32. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.66. The firm has a market cap of $79.57 billion, a P/E ratio of 16.29 and a beta of 0.92. CVS Health Corporation also saw unusually large options trading on Friday. Stock investors purchased 1,498 put options on the company. This represents an increase of approximately 470% compared to the typical volume of 263 put options.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $44.51 billion during the quarter, compared to analysts’ expectations of $44.20 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Analysts predict that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
Several research firms have issued reports on CVS. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Vetr cut CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price target for the company. in a research report on Monday, June 12th. Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. ValuEngine lowered CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $93.98.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Troyen A. Brennan sold 23,849 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $78.73, for a total transaction of $1,877,631.77. Following the transaction, the executive vice president now owns 94,309 shares of the company’s stock, valued at $7,424,947.57. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.
CVS Health Corporation Company Profile
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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