Clarius Group LLC Has $221,000 Stake in CVS Health Corp (CVS)
Clarius Group LLC cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 41.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,803 shares of the pharmacy operator’s stock after selling 2,006 shares during the period. Clarius Group LLC’s holdings in CVS Health were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in CVS Health in the 2nd quarter worth about $191,000. Amica Pension Fund Board of Trustees grew its stake in shares of CVS Health by 38.5% during the 2nd quarter. Amica Pension Fund Board of Trustees now owns 40,787 shares of the pharmacy operator’s stock valued at $2,625,000 after purchasing an additional 11,331 shares during the period. Amica Retiree Medical Trust grew its stake in shares of CVS Health by 34.2% during the 2nd quarter. Amica Retiree Medical Trust now owns 6,383 shares of the pharmacy operator’s stock valued at $411,000 after purchasing an additional 1,625 shares during the period. Canal Capital Management LLC grew its stake in shares of CVS Health by 5.6% during the 2nd quarter. Canal Capital Management LLC now owns 20,252 shares of the pharmacy operator’s stock valued at $1,303,000 after purchasing an additional 1,076 shares during the period. Finally, Veritas Investment Management UK Ltd grew its stake in shares of CVS Health by 19.1% during the 2nd quarter. Veritas Investment Management UK Ltd now owns 234,023 shares of the pharmacy operator’s stock valued at $15,059,000 after purchasing an additional 37,605 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.
A number of research firms have issued reports on CVS. Cantor Fitzgerald began coverage on CVS Health in a research note on Sunday, December 2nd. They set an “overweight” rating and a $77.84 price target for the company. Goldman Sachs Group restated a “neutral” rating and set a $87.00 price target on shares of CVS Health in a research note on Thursday, November 29th. Evercore ISI began coverage on CVS Health in a research note on Wednesday, November 28th. They set an “outperform” rating and a $89.00 price target for the company. Loop Capital set a $80.00 price target on CVS Health and gave the company a “hold” rating in a research note on Wednesday, November 28th. Finally, Wells Fargo & Co boosted their price target on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $90.69.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. On average, sell-side analysts expect that CVS Health Corp will post 7.03 earnings per share for the current year.
In related news, EVP Troyen A. Brennan sold 14,229 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total transaction of $1,166,778.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Denton sold 25,159 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the transaction, the chief financial officer now owns 403 shares of the company’s stock, valued at $32,292.39. 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 currently owned by corporate insiders.
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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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