Lipe & Dalton boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,471 shares of the pharmacy operator’s stock after acquiring an additional 1,505 shares during the quarter. CVS Health comprises 2.2% of Lipe & Dalton’s holdings, making the stock its 22nd largest holding. Lipe & Dalton’s holdings in CVS Health were worth $3,015,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its stake in shares of CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares in the last quarter. Wagner Wealth Management LLC purchased a new position in CVS Health in the fourth quarter valued at $114,000. IFG Advisory LLC purchased a new position in CVS Health in the fourth quarter valued at $1,504,000. Focused Wealth Management Inc boosted its holdings in CVS Health by 90.5% in the fourth quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 846 shares during the period. Finally, Cerebellum GP LLC purchased a new position in CVS Health in the fourth quarter valued at $130,000. 83.36% of the stock is owned by institutional investors and hedge funds.
CVS Health traded up $0.71, hitting $69.12, during trading on Thursday, Marketbeat reports. The company had a trading volume of 8,630,515 shares, compared to its average volume of 8,756,859. The stock has a market capitalization of $68.05 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $84.00. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.77 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts expect that CVS Health Corp will post 6.98 earnings per share for the current fiscal year.
In other CVS Health news, Director C David Brown II bought 10,000 shares of the company’s stock in a transaction on Friday, May 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the transaction, the director now owns 101,252 shares of the company’s stock, valued at approximately $6,276,611.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.
CVS has been the subject of a number of recent research reports. Bank of America initiated coverage on CVS Health in a report on Tuesday, February 27th. They issued a “buy” rating and a $91.00 target price for the company. Leerink Swann set a $85.00 target price on CVS Health and gave the company a “buy” rating in a report on Tuesday, April 10th. ValuEngine downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Loop Capital set a $68.00 price target on CVS Health and gave the stock a “hold” rating in a report on Monday, May 7th. Finally, Mizuho set a $95.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average target price of $86.27.
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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