Jupiter Asset Management Ltd. reduced its position in shares of CVS Health Corp (NYSE:CVS) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,867 shares of the pharmacy operator’s stock after selling 24,948 shares during the period. Jupiter Asset Management Ltd.’s holdings in CVS Health were worth $8,390,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Wagner Wealth Management LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $114,000. IFG Advisory LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $1,504,000. Quantbot Technologies LP acquired a new position in CVS Health during the first quarter valued at approximately $103,000. Focused Wealth Management Inc boosted its position in CVS Health by 90.5% during the fourth quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 846 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $130,000. 83.36% of the stock is owned by institutional investors.
CVS has been the subject of several recent research reports. Citigroup set a $77.00 price target on CVS Health and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Bank of America initiated coverage on CVS Health in a research report on Tuesday, February 27th. They set a “buy” rating and a $91.00 price target for the company. Leerink Swann set a $85.00 price target on CVS Health and gave the company a “buy” rating in a research report on Tuesday, April 10th. ValuEngine cut CVS Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Loop Capital set a $68.00 price objective on CVS Health and gave the company a “hold” rating in a research report on Monday, May 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $86.27.
Shares of NYSE CVS opened at $66.35 on Wednesday. The company has a market cap of $68.05 billion, a PE ratio of 11.25, a PEG ratio of 0.93 and a beta of 1.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.88 and a current ratio of 2.37. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $84.00.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. equities research analysts predict that CVS Health Corp will post 6.98 earnings per share for the current year.
In other news, Director C David Brown II bought 10,000 shares of the stock in a transaction dated Friday, May 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the completion of the purchase, the director now owns 101,252 shares in the company, valued at $6,276,611.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.
CVS Health 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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