Advisors Asset Management Inc. Acquires New Position in CVS Health Corporation (CVS)
Advisors Asset Management Inc. bought a new stake in shares of CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 200,901 shares of the pharmacy operator’s stock, valued at approximately $19,234,000.
Other institutional investors also recently bought and sold shares of the company. Springbok Capital Management LLC raised its position in CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 741 shares during the period. MU Investments Co. Ltd. raised its position in CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock valued at $109,000 after buying an additional 440 shares during the period. Alexandria Capital LLC raised its position in CVS Health Corporation by 3.4% in the second quarter. Alexandria Capital LLC now owns 1,405 shares of the pharmacy operator’s stock valued at $135,000 after buying an additional 46 shares during the period. Arcadia Investment Management Corp MI raised its position in CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock valued at $154,000 after buying an additional 750 shares during the period. Finally, Cypress Capital Management LLC WY bought a new position in CVS Health Corporation during the second quarter valued at $164,000. Institutional investors own 80.96% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded down 0.22% on Wednesday, reaching $89.79. 4,242,994 shares of the company traded hands. CVS Health Corporation has a 52-week low of $86.50 and a 52-week high of $106.67. The company has a market capitalization of $95.74 billion, a PE ratio of 20.66 and a beta of 0.84. The stock has a 50-day moving average of $94.64 and a 200 day moving average of $97.97.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The company had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities analysts forecast that CVS Health Corporation will post $5.86 EPS for the current year.
Several equities analysts have weighed in on the company. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a report on Friday, June 10th. FBR & Co restated an “outperform” rating and set a $120.00 target price on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Morgan Stanley restated a “hold” rating and set a $104.00 target price on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG lifted their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $113.02.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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