Advisory Services Network LLC Buys Shares of 11,056 CVS Health Corporation (CVS)

Advisory Services Network LLC bought a new stake in CVS Health Corporation (NYSE:CVS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,056 shares of the pharmacy operator’s stock, valued at approximately $868,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. NWQ Investment Management Company LLC boosted its position in shares of CVS Health Corporation by 44.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,352,559 shares of the pharmacy operator’s stock valued at $106,730,000 after buying an additional 418,601 shares in the last quarter. Naples Global Advisors LLC acquired a new position in shares of CVS Health Corporation during the first quarter valued at approximately $452,000. Regent Investment Management LLC boosted its position in shares of CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock valued at $5,245,000 after buying an additional 429 shares in the last quarter. Thompson Rubinstein Investment Management Inc. OR boosted its position in shares of CVS Health Corporation by 8.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 39,646 shares of the pharmacy operator’s stock valued at $3,112,000 after buying an additional 3,159 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock valued at $7,233,000 after buying an additional 14,012 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

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

Shares of CVS Health Corporation (NYSE:CVS) opened at 77.41 on Friday. The firm has a market cap of $78.86 billion, a price-to-earnings ratio of 16.14 and a beta of 0.92. The firm has a 50-day moving average of $78.72 and a 200-day moving average of $79.38. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.66.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.07. The firm had revenue of $44.51 billion for the quarter, compared to analyst estimates of $44.20 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 EPS. On average, analysts anticipate that CVS Health Corporation will post $5.87 EPS for the current year.

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CVS has been the topic of several recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $106.67 target price on shares of CVS Health Corporation in a report on Tuesday, February 28th. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 target price (up from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 target price on the stock in a report on Wednesday, May 17th. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Tigress Financial initiated coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $93.98.

In other news, EVP Helena Foulkes sold 20,332 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the completion of the sale, the executive vice president now owns 59,300 shares of the company’s stock, valued at approximately $4,564,914. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate 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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