CVS Health Corporation (CVS) Holdings Cut by Perkins Capital Management Inc.
Perkins Capital Management Inc. lessened its holdings in CVS Health Corporation (NYSE:CVS) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,050 shares of the pharmacy operator’s stock after selling 933 shares during the quarter. CVS Health Corporation accounts for 1.3% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Perkins Capital Management Inc.’s holdings in CVS Health Corporation were worth $1,130,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Mercer Capital Advisers Inc. bought a new position in CVS Health Corporation in the 1st quarter valued at $118,000. Gemmer Asset Management LLC grew its stake in CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the period. TB Alternative Assets Ltd. bought a new position in CVS Health Corporation in the 2nd quarter valued at $121,000. SRS Capital Advisors Inc. grew its stake in CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after purchasing an additional 734 shares during the period. Finally, Nadler Financial Group Inc. bought a new position in CVS Health Corporation in the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 81.55% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) opened at 83.17 on Friday. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $90.85. The firm has a 50 day moving average price of $78.92 and a 200 day moving average price of $78.97. The stock has a market cap of $84.55 billion, a PE ratio of 16.57 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. CVS Health Corporation’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that CVS Health Corporation will post $5.88 EPS for the current year.
A number of research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. Jefferies Group LLC upped their price objective on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. dropped their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Finally, Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $89.00 to $82.00 in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $90.35.
In other news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the completion of the transaction, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The disclosure for this sale can be found here. Insiders have sold 611,660 shares of company stock valued at $49,492,596 in the last three months. 0.61% of the stock is currently owned by corporate insiders.
CVS Health Corporation Company 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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