Brookmont Capital Management cut its stake in CVS Health Corporation (NYSE:CVS) by 29.7% during the second quarter, Holdings Channel reports. The fund owned 16,971 shares of the pharmacy operator’s stock after selling 7,173 shares during the period. Brookmont Capital Management’s holdings in CVS Health Corporation were worth $1,625,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CVS. Springbok Capital Management LLC boosted its stake in shares of 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 last quarter. MU Investments Co. Ltd. boosted its stake in shares of 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 last quarter. Global X Management Co. LLC boosted its stake in shares of CVS Health Corporation by 93.5% in the second quarter. Global X Management Co. LLC now owns 1,362 shares of the pharmacy operator’s stock valued at $130,000 after buying an additional 658 shares during the last quarter. Alexandria Capital LLC boosted its stake in shares of 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 last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

CVS Health Corporation (NYSE:CVS) traded down 0.27% during midday trading on Wednesday, reaching $89.75. 4,146,974 shares of the company were exchanged. The firm has a 50-day moving average price of $94.64 and a 200-day moving average price of $97.97. 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 $95.69 billion, a PE ratio of 20.65 and a beta of 0.84.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The business had revenue of $43.70 billion for the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. Equities research analysts anticipate that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research note 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 research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research 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 research report on Wednesday, August 3rd. Finally, Deutsche Bank AG upped their target price on shares of CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus 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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