Mechanics Bank Trust Department boosted its position in CVS Health Corporation (NYSE:CVS) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,809 shares of the pharmacy operator’s stock after acquiring an additional 994 shares during the period. Mechanics Bank Trust Department’s holdings in CVS Health Corporation were worth $4,329,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CVS. CGOV Asset Management grew its holdings in CVS Health Corporation by 0.3% in the 1st quarter. CGOV Asset Management now owns 1,148,337 shares of the pharmacy operator’s stock worth $120,090,000 after acquiring an additional 3,466 shares during the last quarter. Alta Capital Management LLC grew its holdings in CVS Health Corporation by 154.7% in the 1st quarter. Alta Capital Management LLC now owns 550,646 shares of the pharmacy operator’s stock worth $43,225,000 after acquiring an additional 334,438 shares during the last quarter. Quotient Investors LLC grew its holdings in CVS Health Corporation by 5.7% in the 1st quarter. Quotient Investors LLC now owns 3,700 shares of the pharmacy operator’s stock worth $290,000 after acquiring an additional 200 shares during the last quarter. Ledyard National Bank grew its holdings in CVS Health Corporation by 82.2% in the 1st quarter. Ledyard National Bank now owns 80,951 shares of the pharmacy operator’s stock worth $6,355,000 after acquiring an additional 36,515 shares during the last quarter. Finally, Bollard Group LLC grew its holdings in CVS Health Corporation by 11.3% in the 1st quarter. Bollard Group LLC now owns 19,390 shares of the pharmacy operator’s stock worth $1,522,000 after acquiring an additional 1,976 shares during the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CVS. Cowen and Company reissued an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a report on Tuesday, June 13th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. cut their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. 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 Tuesday, June 27th. Finally, Wolfe Research lowered shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $90.83.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the transaction, the director now directly owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Helena Foulkes sold 20,333 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the transaction, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at $4,744,080. The disclosure for this sale can be found here. Insiders sold a total of 43,165 shares of company stock valued at $3,390,847 over the last quarter. 0.61% of the stock is owned by company insiders.
CVS Health Corporation (CVS) traded up 3.65% during midday trading on Tuesday, reaching $82.63. 4,340,673 shares of the company traded hands. The company has a 50 day moving average price of $78.37 and a 200-day moving average price of $78.89. The stock has a market capitalization of $84.00 billion, a P/E ratio of 16.46 and a beta of 0.92. CVS Health Corporation has a one year low of $69.30 and a one year high of $91.82.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. CVS Health Corporation’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.32 EPS. Analysts forecast that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
About CVS Health Corporation
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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