Alta Advisers Ltd acquired a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,712 shares of the pharmacy operator's stock, valued at approximately $455,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dodge & Cox grew its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Capital World Investors increased its position in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after buying an additional 689,867 shares during the period. Capital International Investors grew its stake in shares of CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.
Insider Activity at CVS Health
In related news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.22% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Mizuho upped their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada boosted their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Barclays set a $79.00 price target on CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.
Read Our Latest Research Report on CVS Health
CVS Health Trading Up 1.3%
NYSE:CVS traded up $0.87 during midday trading on Thursday, hitting $67.47. 3,770,654 shares of the company traded hands, compared to its average volume of 10,811,121. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm's fifty day moving average is $65.03 and its 200-day moving average is $61.17. The firm has a market capitalization of $85.35 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.00 and a beta of 0.57. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51.
CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the company earned $1.31 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.
About CVS Health
(
Free Report)
CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.
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