Linscomb & Williams Inc. boosted its position in CVS Health Corporation (NYSE:CVS) by 970.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,865 shares of the pharmacy operator’s stock after buying an additional 30,700 shares during the period. Linscomb & Williams Inc.’s holdings in CVS Health Corporation were worth $2,658,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. purchased a new position in CVS Health Corporation during the first quarter worth about $118,000. SRS Capital Advisors Inc. purchased a new position in CVS Health Corporation during the fourth quarter worth about $120,000. D Orazio & Associates Inc. raised its position 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 worth $123,000 after buying an additional 400 shares during the last quarter. Elgethun Capital Management purchased a new position in CVS Health Corporation during the fourth quarter worth about $133,000. Finally, Sowell Financial Services LLC purchased a new position in CVS Health Corporation during the fourth quarter worth about $140,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) opened at 77.78 on Wednesday. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.66. The firm’s 50-day moving average price is $78.72 and its 200-day moving average price is $79.38. The firm has a market capitalization of $79.24 billion, a price-to-earnings ratio of 16.22 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $44.20 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Corporation will post $5.87 earnings per share for the current year.
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A number of research analysts recently issued reports on the company. Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price on the stock. in a report on Monday, June 12th. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a report on Saturday, March 18th. Jefferies Group LLC set a $82.00 target price on CVS Health Corporation and gave the stock a “hold” rating in a report on Saturday, April 1st. Cowen and Company reaffirmed an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a report on Tuesday, June 13th. Finally, ValuEngine lowered CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $93.98.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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