Stephens Inc. AR lowered its stake in CVS Health Corp (NYSE:CVS) by 17.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,635 shares of the pharmacy operator’s stock after selling 14,023 shares during the period. Stephens Inc. AR’s holdings in CVS Health were worth $4,159,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CVS. BlackRock Inc. boosted its stake in shares of CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after buying an additional 4,121,620 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in CVS Health by 16.7% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,102,755 shares of the pharmacy operator’s stock worth $1,126,173,000 after purchasing an additional 2,588,382 shares in the last quarter. Parnassus Investments CA boosted its position in CVS Health by 2.2% during the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock worth $1,072,039,000 after purchasing an additional 350,872 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CVS Health by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after purchasing an additional 1,721,683 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in CVS Health by 4.5% during the second quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock worth $765,149,000 after purchasing an additional 508,500 shares in the last quarter. 83.56% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at $910,125. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

A number of research firms have commented on CVS. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of CVS Health in a research report on Wednesday, August 8th. Leerink Swann set a $80.00 target price on CVS Health and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Morgan Stanley decreased their target price on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Mizuho reiterated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Finally, Citigroup reiterated a “buy” rating and set a $81.00 target price on shares of CVS Health in a research report on Monday, July 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. CVS Health has an average rating of “Buy” and an average price target of $86.04.

NYSE CVS opened at $77.29 on Friday. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $84.00. The firm has a market capitalization of $77.44 billion, a PE ratio of 13.10, a P/E/G ratio of 1.02 and a beta of 1.01. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts predict that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.

CVS Health Company 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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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