Trustmark National Bank Trust Department lowered its position in CVS Health Corp (NYSE:CVS) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,870 shares of the pharmacy operator’s stock after selling 365 shares during the quarter. Trustmark National Bank Trust Department’s holdings in CVS Health were worth $586,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Fort L.P. purchased a new stake in CVS Health during the 1st quarter worth about $190,000. Legal & General Group Plc increased its position in CVS Health by 5.7% during the 1st quarter. Legal & General Group Plc now owns 8,768,437 shares of the pharmacy operator’s stock worth $520,737,000 after purchasing an additional 469,515 shares in the last quarter. Bar Harbor Trust Services purchased a new stake in CVS Health during the 1st quarter worth about $4,861,000. Beck Bode LLC increased its position in CVS Health by 1,665.2% during the 1st quarter. Beck Bode LLC now owns 107,944 shares of the pharmacy operator’s stock worth $6,644,000 after purchasing an additional 101,829 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in CVS Health by 1,469.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 236,998 shares of the pharmacy operator’s stock worth $14,061,000 after purchasing an additional 221,899 shares in the last quarter. Hedge funds and other institutional investors own 76.09% of the company’s stock.
Shares of NYSE CVS traded down $3.79 during midday trading on Thursday, hitting $63.72. The stock had a trading volume of 6,838,250 shares, compared to its average volume of 9,605,322. The company has a market capitalization of $89.07 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.53 and a beta of 0.75. CVS Health Corp has a 1-year low of $52.04 and a 1-year high of $77.03. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average price of $63.69 and a 200 day moving average price of $67.09.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. The firm had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. CVS Health’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. On average, research analysts forecast that CVS Health Corp will post 7.08 EPS for the current year.
In related news, EVP Alan Lotvin purchased 5,000 shares of CVS Health stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now owns 15,161 shares of the company’s stock, valued at approximately $957,265.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 3,030 shares of CVS Health stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $60.00, for a total value of $181,800.00. Following the sale, the senior vice president now owns 12,790 shares in the company, valued at $767,400. The disclosure for this sale can be found here. Insiders have sold a total of 9,534 shares of company stock worth $604,560 over the last three months. 0.46% of the stock is currently owned by corporate insiders.
A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on CVS Health from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. SunTrust Banks decreased their price target on CVS Health from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Cfra raised their price target on CVS Health from $85.00 to $86.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 12th. Citigroup decreased their price target on CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Robert W. Baird raised their price target on CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $80.88.
CVS Health 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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