Covenant Asset Management LLC lessened its holdings in shares of CVS Health Corp (NYSE:CVS) by 69.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,867 shares of the pharmacy operator’s stock after selling 10,892 shares during the quarter. Covenant Asset Management LLC’s holdings in CVS Health were worth $396,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of CVS. Pathstone Family Office LLC boosted its holdings in CVS Health by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after acquiring an additional 982 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares during the period. Arcadia Investment Management Corp MI boosted its holdings in CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 726 shares during the period. MPS Loria Financial Planners LLC purchased a new position in CVS Health in the 2nd quarter worth approximately $119,000. Finally, Gemmer Asset Management LLC boosted its holdings in CVS Health by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares during the period. 81.63% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the transaction, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. analysts predict that CVS Health Corp will post 5.9 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. Loop Capital decreased their price target on CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Needham & Company LLC upped their price target on CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Jefferies Group decreased their price target on CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Deutsche Bank began coverage on CVS Health in a report on Monday, December 4th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.35.
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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