Sterling Investment Management Inc. Raises Position in CVS Health Corporation (CVS)

Sterling Investment Management Inc. boosted its stake in CVS Health Corporation (NYSE:CVS) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,447 shares of the pharmacy operator’s stock after buying an additional 472 shares during the period. CVS Health Corporation accounts for 2.1% of Sterling Investment Management Inc.’s portfolio, making the stock its 19th largest position. Sterling Investment Management Inc.’s holdings in CVS Health Corporation were worth $1,527,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Lebenthal Asset Management LLC boosted its stake in CVS Health Corporation by 0.7% in the fourth quarter. Lebenthal Asset Management LLC now owns 6,557 shares of the pharmacy operator’s stock valued at $517,000 after buying an additional 48 shares in the last quarter. Alpha Windward LLC boosted its stake in CVS Health Corporation by 1.5% in the first quarter. Alpha Windward LLC now owns 3,302 shares of the pharmacy operator’s stock valued at $259,000 after buying an additional 49 shares in the last quarter. BLB&B Advisors LLC boosted its stake in CVS Health Corporation by 0.4% in the first quarter. BLB&B Advisors LLC now owns 16,355 shares of the pharmacy operator’s stock valued at $1,284,000 after buying an additional 72 shares in the last quarter. Citizens & Northern Corp boosted its stake in CVS Health Corporation by 0.3% in the fourth quarter. Citizens & Northern Corp now owns 24,049 shares of the pharmacy operator’s stock valued at $1,898,000 after buying an additional 78 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its stake in CVS Health Corporation by 0.8% in the first quarter. Oxbow Advisors LLC now owns 12,090 shares of the pharmacy operator’s stock valued at $949,000 after buying an additional 90 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of CVS Health Corporation (CVS) opened at 77.41 on Monday. The stock has a 50 day moving average of $78.72 and a 200-day moving average of $79.38. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.66. The firm has a market capitalization of $78.86 billion, a PE ratio of 16.14 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. The company had revenue of $44.51 billion during the quarter, compared to the consensus estimate of $44.20 billion. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The firm’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 posted $1.18 EPS. Equities analysts anticipate that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.

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Several analysts recently commented on CVS shares. Bank of America Corporation restated a “buy” rating and set a $106.67 price target on shares of CVS Health Corporation in a report on Tuesday, February 28th. Vetr cut shares of CVS Health Corporation from a “hold” rating to a “sell” rating and set a $76.18 price target for the company. in a report on Tuesday, February 28th. Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Saturday, March 18th. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of CVS Health Corporation in a report on Tuesday, March 28th. Finally, Jefferies Group LLC set a $82.00 price target on shares of CVS Health Corporation and gave the stock a “hold” rating in a report on Saturday, April 1st. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $93.98.

In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following 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. Corporate insiders own 0.61% of the company’s stock.

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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