WealthPLAN Partners LLC Increases Holdings in CVS Health Corp (CVS)

WealthPLAN Partners LLC grew its holdings in CVS Health Corp (NYSE:CVS) by 1,772.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,267 shares of the pharmacy operator’s stock after purchasing an additional 56,102 shares during the period. CVS Health makes up about 1.4% of WealthPLAN Partners LLC’s holdings, making the stock its 14th biggest position. WealthPLAN Partners LLC’s holdings in CVS Health were worth $4,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVS. Jackson Grant Investment Advisers Inc. grew its stake in CVS Health by 0.6% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after buying an additional 18 shares in the last quarter. Keel Point LLC grew its stake in CVS Health by 0.7% in the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock worth $259,000 after buying an additional 22 shares in the last quarter. First City Capital Management Inc. grew its stake in CVS Health by 0.3% in the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock worth $1,003,000 after buying an additional 40 shares in the last quarter. Elefante Mark B grew its stake in CVS Health by 0.7% in the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after buying an additional 45 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its stake in CVS Health by 1.3% in the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after buying an additional 48 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors.

In related news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the transaction, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 714,125 shares of company stock worth $58,119,381. Company insiders own 0.61% of the company’s stock.

CVS Health Corp (CVS) traded down $0.68 during trading on Wednesday, hitting $71.01. 15,423,900 shares of the stock traded hands, compared to its average volume of 6,880,704. The company has a market capitalization of $72,621.40, a PE ratio of 12.56, a P/E/G ratio of 1.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. sell-side analysts expect that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.

A number of research firms have commented on CVS. Deutsche Bank reissued a “hold” rating on shares of CVS Health in a research note on Tuesday. Citigroup cut their price objective on shares of CVS Health from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Royal Bank Of Canada assumed coverage on shares of CVS Health in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a report on Monday. Finally, Jefferies Group upped their price objective on shares of CVS Health from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $86.35.

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About CVS Health

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

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