Merit Financial Group LLC Raises Position in CVS Health Corp (NYSE:CVS)

Merit Financial Group LLC increased its position in CVS Health Corp (NYSE:CVS) by 17.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,224 shares of the pharmacy operator’s stock after buying an additional 763 shares during the quarter. Merit Financial Group LLC’s holdings in CVS Health were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Levin Capital Strategies L.P. increased its stake in shares of CVS Health by 12,771.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock valued at $63,712,000 after buying an additional 964,854 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at $157,000. Texas Permanent School Fund increased its stake in shares of CVS Health by 13.8% in the fourth quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock valued at $17,042,000 after buying an additional 31,567 shares in the last quarter. St. Johns Investment Management Company LLC increased its stake in shares of CVS Health by 7.9% in the fourth quarter. St. Johns Investment Management Company LLC now owns 15,706 shares of the pharmacy operator’s stock valued at $1,029,000 after buying an additional 1,154 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of CVS Health in the first quarter valued at $3,040,000. 77.29% of the stock is owned by hedge funds and other institutional investors.

CVS stock traded up $0.33 during midday trading on Monday, reaching $54.50. The stock had a trading volume of 49,666 shares, compared to its average volume of 8,198,792. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The firm has a market cap of $70.37 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.09 and a beta of 0.88. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The company had revenue of $61.65 billion during the quarter, compared to analyst estimates of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 EPS. Sell-side analysts predict that CVS Health Corp will post 6.85 earnings per share for the current fiscal year.

CVS has been the subject of a number of research reports. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 28th. CIBC restated a “market perform” rating on shares of CVS Health in a research note on Monday, April 15th. Oppenheimer lowered CVS Health from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Argus lowered their target price on CVS Health from $100.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, February 25th. Finally, SunTrust Banks lowered their target price on CVS Health to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and a consensus price target of $76.48.

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CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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