RDA Financial Network increased its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,515 shares of the pharmacy operator’s stock after purchasing an additional 236 shares during the period. RDA Financial Network’s holdings in CVS Health were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in CVS Health by 2.8% in the 4th quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock worth $5,860,552,000 after purchasing an additional 1,560,168 shares during the period. Capital International Investors lifted its position in CVS Health by 1.5% during the 4th quarter. Capital International Investors now owns 27,821,477 shares of the pharmacy operator’s stock worth $2,870,096,000 after buying an additional 414,724 shares in the last quarter. Geode Capital Management LLC lifted its position in CVS Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 22,099,200 shares of the pharmacy operator’s stock worth $2,273,690,000 after buying an additional 408,181 shares in the last quarter. Veritas Asset Management LLP lifted its position in CVS Health by 30.1% during the 4th quarter. Veritas Asset Management LLP now owns 14,514,784 shares of the pharmacy operator’s stock worth $1,497,345,000 after buying an additional 3,361,760 shares in the last quarter. Finally, Norges Bank bought a new stake in CVS Health during the 4th quarter worth about $1,346,805,000. 78.00% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Prem S. Shah sold 16,954 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $105.00, for a total transaction of $1,780,170.00. Following the sale, the executive vice president now owns 43,453 shares in the company, valued at approximately $4,562,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel P. Finke sold 55,359 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $100.13, for a total transaction of $5,543,096.67. Following the sale, the executive vice president now owns 3,098 shares in the company, valued at approximately $310,202.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,659 shares of company stock worth $7,882,993. Company insiders own 0.69% of the company’s stock.
CVS Health (NYSE:CVS – Get Rating) last announced its earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The firm had revenue of $76.83 billion for the quarter, compared to analyst estimates of $75.30 billion. During the same quarter in the prior year, the business posted $2.04 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Co. will post 8.33 EPS for the current fiscal year.
CVS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CVS Health from $110.00 to $113.00 in a research report on Thursday, May 5th. Sanford C. Bernstein cut shares of CVS Health from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $122.00 to $112.00 in a report on Thursday, May 26th. Loop Capital started coverage on shares of CVS Health in a report on Thursday, June 16th. They issued a “buy” rating and a $120.00 target price on the stock. StockNews.com started coverage on shares of CVS Health in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Tigress Financial upped their target price on shares of CVS Health from $122.00 to $125.00 in a report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.05.
About CVS Health (Get Rating)
CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
- Get a free copy of the StockNews.com research report on CVS Health (CVS)
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