WESPAC Advisors SoCal LLC boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,970 shares of the pharmacy operator’s stock after acquiring an additional 291 shares during the quarter. CVS Health comprises 3.2% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 9th largest holding. WESPAC Advisors SoCal LLC’s holdings in CVS Health were worth $5,066,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CVS. Pathstone Family Office LLC grew its stake in shares of CVS Health by 341.0% in the second quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after buying an additional 982 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of CVS Health in the second quarter valued at $121,000. Gemmer Asset Management LLC grew its stake in shares of CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of CVS Health in the second quarter valued at $155,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of CVS Health by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares in the last quarter. 82.24% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on CVS shares. Jefferies Group set a $76.00 price objective on CVS Health and gave the company a “hold” rating in a research note on Monday. Royal Bank Of Canada started coverage on CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a research note on Friday, October 27th. Loop Capital started coverage on CVS Health in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 price objective for the company. Finally, Leerink Swann set a $85.00 target price on CVS Health and gave the company a “buy” rating in a report on Monday. One equities research 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 an average rating of “Buy” and a consensus target price of $86.35.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. CVS Health’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. sell-side analysts predict that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.
In other CVS Health news, CFO David M. Denton sold 237,078 shares of CVS Health stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of CVS Health stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value of $1,667,799.99. Following the sale, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock valued at $58,119,381 over the last ninety days. 0.61% of the stock is owned by company insiders.
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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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