CVS Health Corp (CVS) Holdings Lifted by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. grew its position in CVS Health Corp (NYSE:CVS) by 218.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 215,509 shares of the pharmacy operator’s stock after purchasing an additional 147,741 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CVS Health were worth $13,866,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Adviser Investments LLC grew its stake in shares of CVS Health by 43.3% in the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after acquiring an additional 905 shares during the period. Keystone Financial Planning Inc. grew its stake in shares of CVS Health by 44.5% in the second quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock worth $3,799,000 after acquiring an additional 18,176 shares during the period. ICM Asset Management Inc. WA bought a new stake in shares of CVS Health in the second quarter worth approximately $1,152,000. Point View Wealth Management Inc. grew its stake in shares of CVS Health by 8.4% in the second quarter. Point View Wealth Management Inc. now owns 17,095 shares of the pharmacy operator’s stock worth $1,100,000 after acquiring an additional 1,320 shares during the period. Finally, Girard Partners LTD. grew its stake in shares of CVS Health by 9.7% in the second quarter. Girard Partners LTD. now owns 40,366 shares of the pharmacy operator’s stock worth $2,598,000 after acquiring an additional 3,582 shares during the period. 83.56% of the stock is owned by institutional investors and hedge funds.
CVS has been the subject of a number of research analyst reports. Citigroup reiterated a “buy” rating and issued a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. Leerink Swann set a $80.00 price target on shares of CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of CVS Health in a research note on Wednesday, August 8th. Morgan Stanley reduced their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 3rd. Finally, ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and a consensus price target of $86.04.
Shares of NYSE CVS opened at $77.29 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. The company has a market cap of $77.44 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.01. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $84.00.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. equities research analysts anticipate that CVS Health Corp will post 7.05 EPS for the current year.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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