Bruderman Asset Management LLC cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 67.4% during the second quarter, Holdings Channel reports. The fund owned 10,594 shares of the pharmacy operator’s stock after selling 21,906 shares during the period. Bruderman Asset Management LLC’s holdings in CVS Health were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Qube Research & Technologies Ltd boosted its position in CVS Health by 667.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 26,436 shares of the pharmacy operator’s stock valued at $1,701,000 after buying an additional 22,991 shares during the last quarter. HPM Partners LLC boosted its position in CVS Health by 5.4% in the 2nd quarter. HPM Partners LLC now owns 68,727 shares of the pharmacy operator’s stock valued at $4,423,000 after buying an additional 3,521 shares during the last quarter. Cozad Asset Management Inc. bought a new position in CVS Health in the 2nd quarter valued at $2,791,000. Moneta Group Investment Advisors LLC boosted its position in CVS Health by 1,523.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 39,747 shares of the pharmacy operator’s stock valued at $245,000 after buying an additional 37,298 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in CVS Health by 6.4% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 34,798 shares of the pharmacy operator’s stock valued at $2,239,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

A number of research analysts have commented on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 price objective on shares of CVS Health in a research report on Wednesday, August 8th. Leerink Swann set a $80.00 price objective on CVS Health and gave the company an “outperform” rating in a research report on Thursday, August 9th. Morgan Stanley decreased their price objective on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Mizuho reiterated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Finally, Citigroup reiterated a “buy” rating and issued a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned 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 an average rating of “Buy” and a consensus price target of $86.04.

In other news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

NYSE:CVS opened at $78.10 on Tuesday. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34. The firm has a market capitalization of $78.30 billion, a PE ratio of 11.67, a P/E/G ratio of 1.03 and a beta of 1.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same period last year, the company earned $1.33 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. analysts forecast that CVS Health Corp will post 7.05 EPS for the current fiscal year.

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

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