CVS Health Corp (CVS) Shares Sold by Fort L.P.
Fort L.P. cut its stake in CVS Health Corp (NYSE:CVS) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,934 shares of the pharmacy operator’s stock after selling 39,736 shares during the quarter. CVS Health makes up approximately 3.1% of Fort L.P.’s investment portfolio, making the stock its 11th largest holding. Fort L.P.’s holdings in CVS Health were worth $13,316,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Camarda Financial Advisors LLC bought a new position in shares of CVS Health in the second quarter valued at about $102,000. Quantbot Technologies LP bought a new position in shares of CVS Health in the first quarter valued at about $103,000. Kiley Juergens Wealth Management LLC bought a new position in shares of CVS Health in the second quarter valued at about $103,000. Legacy Advisors LLC raised its position in shares of CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after purchasing an additional 1,775 shares during the period. Finally, Squar Milner Financial Services LLC bought a new position in shares of CVS Health in the second quarter valued at about $122,000. 83.57% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on CVS. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Mizuho reaffirmed a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Royal Bank of Canada lowered their price target on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a research report on Friday, June 29th. Morgan Stanley lowered their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Finally, Leerink Swann set a $80.00 price target on shares of CVS Health and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.04.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same period last year, the firm earned $1.33 earnings per share. CVS Health’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities research analysts anticipate that CVS Health Corp will post 7.05 earnings per share for the current year.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.
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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