Canal Insurance CO raised its holdings in CVS Health Corp (NYSE:CVS) by 23.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 52,500 shares of the pharmacy operator’s stock after buying an additional 10,000 shares during the period. CVS Health makes up about 1.4% of Canal Insurance CO’s holdings, making the stock its 27th largest position. Canal Insurance CO’s holdings in CVS Health were worth $3,806,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Beach Investment Management LLC. acquired a new stake in shares of CVS Health during the second quarter worth about $2,224,000. Sequoia Financial Advisors LLC increased its position in CVS Health by 0.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after acquiring an additional 53 shares during the period. Nuance Investments LLC acquired a new position in CVS Health in the 2nd quarter valued at about $2,973,000. Burney Co. increased its position in CVS Health by 11.7% in the 2nd quarter. Burney Co. now owns 104,518 shares of the pharmacy operator’s stock valued at $8,390,000 after acquiring an additional 10,933 shares during the period. Finally, Cannell Peter B & Co. Inc. increased its position in CVS Health by 5.9% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 3,890 shares of the pharmacy operator’s stock valued at $313,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 84.12% of the company’s stock.
Several equities analysts recently issued reports on CVS shares. Jefferies Group set a $76.00 price target on CVS Health and gave the company a “hold” rating in a research report on Monday, December 4th. Robert W. Baird dropped their price target on CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target on the stock. in a research report on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 price target on CVS Health and gave the company a “buy” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $87.03.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The company had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities research analysts forecast that CVS Health Corp will post 6.37 earnings per share for the current fiscal year.
In other news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the sale, the executive vice president now owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by 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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