Tocqueville Asset Management L.P. Grows Stake in CVS Health Corp (CVS)
Tocqueville Asset Management L.P. raised its position in CVS Health Corp (NYSE:CVS) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,059 shares of the pharmacy operator’s stock after purchasing an additional 1,095 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in CVS Health were worth $969,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Tavio Capital LLC raised its holdings in shares of CVS Health by 8.8% in the 2nd quarter. Tavio Capital LLC now owns 430,000 shares of the pharmacy operator’s stock worth $27,671,000 after purchasing an additional 34,760 shares during the period. BB&T Securities LLC raised its holdings in shares of CVS Health by 9.7% in the 2nd quarter. BB&T Securities LLC now owns 790,783 shares of the pharmacy operator’s stock worth $50,886,000 after purchasing an additional 69,723 shares during the period. Twin Capital Management Inc. raised its holdings in shares of CVS Health by 0.7% in the 2nd quarter. Twin Capital Management Inc. now owns 108,530 shares of the pharmacy operator’s stock worth $6,984,000 after purchasing an additional 730 shares during the period. ProVise Management Group LLC raised its holdings in shares of CVS Health by 6.5% in the 2nd quarter. ProVise Management Group LLC now owns 32,812 shares of the pharmacy operator’s stock worth $2,111,000 after purchasing an additional 1,994 shares during the period. Finally, Rampart Investment Management Company LLC raised its holdings in shares of CVS Health by 102.9% in the 2nd quarter. Rampart Investment Management Company LLC now owns 21,999 shares of the pharmacy operator’s stock worth $1,416,000 after purchasing an additional 11,157 shares during the period. Institutional investors own 83.57% of the company’s stock.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, beating the 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 business had revenue of $46.71 billion for the quarter, compared to the consensus estimate of $46.34 billion. During the same period last year, the business posted $1.33 EPS. The company’s revenue was up 2.2% on a year-over-year basis. equities analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current year.
A number of equities analysts have recently commented on CVS shares. Mizuho restated a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 28th. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of CVS Health in a report on Wednesday, August 8th. Morgan Stanley dropped their target price on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Finally, Citigroup reiterated a “buy” rating and set a $81.00 target price on shares of CVS Health in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and a consensus target price of $86.04.
About CVS Health
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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