Van ECK Associates Corp grew its position in shares of CVS Health Corp (NYSE:CVS) by 21.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 564,546 shares of the pharmacy operator’s stock after purchasing an additional 101,478 shares during the quarter. Van ECK Associates Corp’s holdings in CVS Health were worth $35,120,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CVS. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of CVS Health by 17.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,859 shares of the pharmacy operator’s stock worth $5,645,000 after acquiring an additional 11,800 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of CVS Health by 14.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 9,063 shares of the pharmacy operator’s stock worth $657,000 after acquiring an additional 1,150 shares during the period. BancorpSouth Bank acquired a new position in shares of CVS Health in the fourth quarter worth approximately $2,389,000. American International Group Inc. lifted its stake in shares of CVS Health by 1,342.0% in the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock worth $513,406,000 after acquiring an additional 6,590,370 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of CVS Health by 54.1% in the fourth quarter. State of Alaska Department of Revenue now owns 101,835 shares of the pharmacy operator’s stock worth $7,382,000 after acquiring an additional 35,732 shares during the period. 83.36% of the stock is currently owned by hedge funds and other institutional investors.
CVS has been the topic of a number of recent analyst reports. Bank of America initiated coverage on CVS Health in a research note on Tuesday, February 27th. They issued a “buy” rating and a $91.00 price objective on the stock. Leerink Swann set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, April 10th. ValuEngine lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Loop Capital set a $68.00 price objective on CVS Health and gave the stock a “hold” rating in a research note on Monday, May 7th. Finally, Mizuho set a $95.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.27.
Shares of CVS stock opened at $68.41 on Thursday. The company has a market capitalization of $68.05 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $84.00.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 earnings per share. research analysts anticipate that CVS Health Corp will post 6.98 earnings per share for the current year.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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