CVS Health Corp (CVS) Stake Lowered by Bank of Nova Scotia Trust Co.
Bank of Nova Scotia Trust Co. cut its holdings in CVS Health Corp (NYSE:CVS) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,937 shares of the pharmacy operator’s stock after selling 811 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in CVS Health were worth $6,753,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in shares of CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after purchasing an additional 5,446,930 shares in the last quarter. Boston Partners increased its position in shares of CVS Health by 69.1% during the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after purchasing an additional 2,638,888 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of CVS Health by 71.5% during the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock worth $317,805,000 after purchasing an additional 1,647,168 shares in the last quarter. Prudential Financial Inc. increased its position in shares of CVS Health by 61.8% during the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock worth $237,078,000 after purchasing an additional 1,125,400 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of CVS Health by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after purchasing an additional 1,100,373 shares in the last quarter. Institutional investors and hedge funds own 82.24% of the company’s stock.
In other news, COO Jonathan C. Roberts sold 85,743 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 386,780 shares of company stock worth $32,049,963. Corporate insiders own 0.61% of the company’s stock.
CVS Health Corp (CVS) opened at $73.16 on Monday. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.72. The company has a market capitalization of $74,039.58, a price-to-earnings ratio of 12.80, a PEG ratio of 1.37 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. sell-side analysts expect that CVS Health Corp will post 5.9 earnings per share for the current year.
CVS has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health in a research report on Sunday, September 10th. Oppenheimer reiterated a “buy” rating and set a $95.00 price target on shares of CVS Health in a research report on Monday, October 9th. Leerink Swann reiterated an “outperform” rating and set a $85.00 price target (down from $90.00) on shares of CVS Health in a research report on Tuesday, November 7th. BidaskClub lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, SunTrust Banks set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and a consensus price target of $86.35.
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CVS Health 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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