Proffitt & Goodson Inc. decreased its holdings in shares of CVS Health Corp (NYSE:CVS) by 7.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,379 shares of the pharmacy operator’s stock after selling 1,150 shares during the period. CVS Health makes up approximately 0.5% of Proffitt & Goodson Inc.’s investment portfolio, making the stock its 29th largest holding. Proffitt & Goodson Inc.’s holdings in CVS Health were worth $1,169,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Fieldpoint Private Securities LLC boosted its position in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new stake in CVS Health in the 2nd quarter worth approximately $119,000. Gemmer Asset Management LLC boosted its position 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 purchasing an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in CVS Health in the 2nd quarter worth approximately $155,000. Institutional investors and hedge funds own 81.63% of the company’s stock.
CVS Health Corp (CVS) opened at $73.41 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The firm has a market capitalization of $75,609.72, a P/E ratio of 15.17, a PEG ratio of 1.40 and a beta of 0.89. CVS Health Corp has a 52 week low of $66.45 and a 52 week high of $84.72.
CVS has been the topic of several recent research reports. Oppenheimer restated a “buy” rating and issued a $95.00 price objective on shares of CVS Health in a research report on Monday, October 9th. SunTrust Banks set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Thursday, October 12th. Mizuho set a $90.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Cowen set a $86.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Needham & Company LLC upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.02 to $79.00 in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus target price of $86.35.
In other news, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
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CVS Health 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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