Lipe & Dalton Increases Position in CVS Health Corp (NYSE:CVS)
Lipe & Dalton boosted its position in CVS Health Corp (NYSE:CVS) by 2.3% during the first quarter, HoldingsChannel.com reports. The fund owned 53,926 shares of the pharmacy operator’s stock after buying an additional 1,226 shares during the quarter. CVS Health comprises 2.1% of Lipe & Dalton’s holdings, making the stock its 17th biggest position. Lipe & Dalton’s holdings in CVS Health were worth $2,908,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in CVS Health by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock valued at $6,681,267,000 after acquiring an additional 1,445,887 shares during the period. Ellis Investment Partners LLC bought a new stake in CVS Health in the 4th quarter valued at about $2,147,000. Lee Danner & Bass Inc. raised its stake in CVS Health by 0.4% in the 4th quarter. Lee Danner & Bass Inc. now owns 45,077 shares of the pharmacy operator’s stock valued at $2,953,000 after acquiring an additional 178 shares during the period. Wealthstreet Investment Advisors LLC raised its stake in CVS Health by 1.6% in the 4th quarter. Wealthstreet Investment Advisors LLC now owns 35,453 shares of the pharmacy operator’s stock valued at $2,313,000 after acquiring an additional 554 shares during the period. Finally, Signition LP bought a new stake in CVS Health in the 4th quarter valued at about $1,366,000. Institutional investors and hedge funds own 77.48% of the company’s stock.
Shares of CVS Health stock opened at $53.69 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The company has a market cap of $70.05 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15.
A number of equities research analysts recently issued reports on CVS shares. Citigroup set a $74.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Thursday, May 2nd. Argus decreased their price target on CVS Health from $100.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, February 25th. Sanford C. Bernstein started coverage on CVS Health in a research report on Tuesday, March 12th. They set an “outperform” rating and a $76.00 price target on the stock. Credit Suisse Group cut CVS Health from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $73.00 to $61.00 in a research report on Monday, April 29th. Finally, Wells Fargo & Co cut CVS Health from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $104.00 to $68.00 in a research report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $76.48.
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CVS Health Profile
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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