Bellecapital International Ltd. Cuts Holdings in CVS Health Corporation (CVS)
Bellecapital International Ltd. lowered its holdings in shares of CVS Health Corporation (NYSE:CVS) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,273 shares of the pharmacy operator’s stock after selling 2,108 shares during the period. CVS Health Corporation comprises 3.7% of Bellecapital International Ltd.’s portfolio, making the stock its 11th largest holding. Bellecapital International Ltd.’s holdings in CVS Health Corporation were worth $4,206,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mercer Capital Advisers Inc. acquired a new position in CVS Health Corporation during the first quarter worth about $118,000. Gemmer Asset Management LLC raised its position in CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares during the last quarter. TB Alternative Assets Ltd. acquired a new position in CVS Health Corporation during the second quarter worth about $121,000. SRS Capital Advisors Inc. raised its position in CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after acquiring an additional 734 shares during the last quarter. Finally, Nadler Financial Group Inc. acquired a new position in CVS Health Corporation during the second quarter worth about $202,000. Institutional investors own 81.55% of the company’s stock.
Shares of CVS Health Corporation (CVS) opened at 83.08 on Thursday. The stock has a market capitalization of $84.46 billion, a P/E ratio of 16.55 and a beta of 0.92. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $91.13. The company has a 50-day moving average of $78.56 and a 200-day moving average of $78.91.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
In other news, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The disclosure for this sale can be found here. Insiders sold 370,510 shares of company stock valued at $29,460,266 over the last three months. 0.61% of the stock is owned by insiders.
CVS has been the subject of a number of research reports. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 target price for the company in a research report on Wednesday, May 17th. Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a research report on Sunday. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $90.14.
About CVS Health Corporation
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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