Coatue Management LLC Acquires New Position in CVS Health Corp (NYSE:CVS)

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Coatue Management LLC bought a new stake in CVS Health Corp (NYSE:CVS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,463 shares of the pharmacy operator’s stock, valued at approximately $290,000.

A number of other large investors have also recently bought and sold shares of CVS. New England Investment & Retirement Group Inc. acquired a new position in shares of CVS Health in the 1st quarter worth approximately $25,000. Hoover Financial Advisors Inc. acquired a new stake in CVS Health during the 2nd quarter worth approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in CVS Health during the 2nd quarter worth approximately $41,000. Keebeck Wealth Management LLC acquired a new stake in CVS Health during the 2nd quarter worth approximately $42,000. Finally, Balentine LLC acquired a new stake in CVS Health during the 1st quarter worth approximately $47,000. Institutional investors own 75.88% of the company’s stock.

Shares of NYSE CVS traded down $0.21 during mid-day trading on Friday, reaching $60.24. The company had a trading volume of 8,579,320 shares, compared to its average volume of 7,146,087. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $63.95 and a two-hundred day simple moving average of $63.03. The stock has a market cap of $78.84 billion, a P/E ratio of 9.58, a PEG ratio of 1.49 and a beta of 0.67. CVS Health Corp has a 52-week low of $52.04 and a 52-week high of $77.03.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.71. The firm had revenue of $65.30 billion for the quarter, compared to the consensus estimate of $64.29 billion. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $1.89 EPS. On average, equities analysts expect that CVS Health Corp will post 7.23 EPS for the current year.

A number of research firms have issued reports on CVS. Deutsche Bank reduced their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Royal Bank of Canada reiterated a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. SVB Leerink increased their target price on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Credit Suisse Group increased their price objective on shares of CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $82.13.

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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