CVS Health Corporation (CVS) Shares Sold by Acadian Asset Management LLC
Acadian Asset Management LLC lessened its position in CVS Health Corporation (NYSE:CVS) by 49.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,583 shares of the pharmacy operator’s stock after selling 21,849 shares during the quarter. Acadian Asset Management LLC’s holdings in CVS Health Corporation were worth $1,816,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $118,000. Gemmer Asset Management LLC lifted its stake in shares of CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the period. TB Alternative Assets Ltd. purchased a new position in shares of CVS Health Corporation in the 2nd quarter valued at approximately $121,000. SRS Capital Advisors Inc. lifted its stake in shares of CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after purchasing an additional 734 shares during the period. Finally, Nadler Financial Group Inc. purchased a new position in shares of CVS Health Corporation in the 2nd quarter valued at approximately $202,000. Institutional investors own 81.55% of the company’s stock.
A number of brokerages have issued reports on CVS. Cowen and Company reiterated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. lowered their price objective on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Leerink Swann set a $90.00 price objective on CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $90.83.
In other news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the sale, the director now directly owns 3,258 shares in the company, valued at approximately $259,401.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders have sold a total of 273,675 shares of company stock worth $21,831,647 over the last ninety days. 0.61% of the stock is owned by insiders.
CVS Health Corporation (NYSE:CVS) traded up 1.5323% during mid-day trading on Wednesday, reaching $79.8958. The company’s stock had a trading volume of 2,394,093 shares. CVS Health Corporation has a one year low of $69.30 and a one year high of $93.86. The company has a market capitalization of $81.22 billion, a price-to-earnings ratio of 15.9155 and a beta of 0.92. The stock has a 50-day moving average price of $78.11 and a 200-day moving average price of $78.90.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. Equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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