Cidel Asset Management Inc. trimmed its stake in shares of CVS Health Corp (NYSE:CVS) by 56.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,773 shares of the pharmacy operator’s stock after selling 146,937 shares during the quarter. CVS Health comprises approximately 1.2% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 29th biggest position. Cidel Asset Management Inc.’s holdings in CVS Health were worth $23,857,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in shares of CVS Health by 2.8% during the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after purchasing an additional 340,315 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in CVS Health in the first quarter valued at approximately $3,040,000. M&R Capital Management Inc. boosted its holdings in CVS Health by 3.0% in the first quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock valued at $6,965,000 after acquiring an additional 3,794 shares during the last quarter. Mathes Company Inc. boosted its holdings in CVS Health by 61.0% in the first quarter. Mathes Company Inc. now owns 14,250 shares of the pharmacy operator’s stock valued at $769,000 after acquiring an additional 5,400 shares during the last quarter. Finally, World Asset Management Inc boosted its holdings in CVS Health by 23.7% in the first quarter. World Asset Management Inc now owns 110,866 shares of the pharmacy operator’s stock valued at $5,979,000 after acquiring an additional 21,261 shares during the last quarter. 76.06% of the stock is owned by institutional investors.
Shares of NYSE:CVS traded down $0.13 during mid-day trading on Friday, hitting $63.77. 1,192,828 shares of the company traded hands, compared to its average volume of 7,689,623. The firm has a market cap of $82.71 billion, a P/E ratio of 9.01, a PEG ratio of 1.39 and a beta of 0.85. The firm’s 50 day simple moving average is $59.26 and its 200 day simple moving average is $55.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 EPS. Equities research analysts expect that CVS Health Corp will post 6.96 EPS for the current fiscal year.
A number of equities analysts have issued reports on CVS shares. Bank of America increased their price target on CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho set a $71.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, June 5th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research report on Monday. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup increased their price target on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.91.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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