Bridgeway Capital Management Inc. Sells 220,450 Shares of CVS Health Corp (CVS)
Bridgeway Capital Management Inc. lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 26.3% during the third quarter, HoldingsChannel reports. The firm owned 617,103 shares of the pharmacy operator’s stock after selling 220,450 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in CVS Health were worth $48,578,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after acquiring an additional 4,121,620 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in CVS Health in the second quarter worth about $190,701,000. Boston Partners boosted its holdings in CVS Health by 41.9% in the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock worth $637,637,000 after acquiring an additional 2,924,875 shares in the last quarter. Morgan Stanley boosted its holdings in CVS Health by 28.4% in the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock worth $537,854,000 after acquiring an additional 1,848,678 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in CVS Health by 52.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,171,271 shares of the pharmacy operator’s stock worth $332,771,000 after acquiring an additional 1,771,170 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors.
Shares of NYSE:CVS opened at $76.57 on Friday. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88. The stock has a market capitalization of $80.39 billion, a PE ratio of 11.57, a PEG ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94.
Several equities research analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on CVS Health in a report on Monday, November 26th. They issued an “overweight” rating and a $96.00 price target for the company. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Loop Capital set a $80.00 price target on CVS Health and gave the stock a “hold” rating in a report on Wednesday, November 28th. Goldman Sachs Group reissued a “neutral” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Finally, Evercore ISI started coverage on CVS Health in a research note on Wednesday, November 28th. They issued an “outperform” rating and a $89.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $90.69.
In related news, CFO David M. Denton sold 25,159 shares of CVS Health stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the completion of the transaction, the chief financial officer now directly owns 403 shares in the company, valued at $32,292.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of CVS Health stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,233 shares of company stock valued at $5,932,565. 0.53% of the stock is owned by company insiders.
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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