Public Employees Retirement Association of Colorado grew its position in CVS Health Corp (NYSE:CVS) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,922 shares of the pharmacy operator’s stock after acquiring an additional 11,458 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CVS Health were worth $12,993,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in CVS Health by 22.0% in the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares during the period. Vanguard Group Inc increased its stake in CVS Health by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the period. FMR LLC increased its stake in CVS Health by 30.6% in the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after buying an additional 9,194,005 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CVS Health by 6,858.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after buying an additional 24,728,818 shares during the period. Finally, Northern Trust Corp increased its stake in CVS Health by 24.6% in the 4th quarter. Northern Trust Corp now owns 17,939,831 shares of the pharmacy operator’s stock worth $1,175,418,000 after buying an additional 3,543,504 shares during the period. 77.48% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on CVS shares. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Sanford C. Bernstein assumed coverage on shares of CVS Health in a research report on Tuesday, March 12th. They set an “outperform” rating and a $76.00 target price on the stock. Morgan Stanley set a $92.00 target price on shares of CVS Health and gave the company a “buy” rating in a research report on Friday, February 22nd. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 28th. Finally, Credit Suisse Group downgraded shares of CVS Health from an “outperform” rating to a “neutral” rating and cut their target price for the company from $73.00 to $61.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and an average price target of $76.48.
Shares of NYSE:CVS traded down $0.72 during trading on Wednesday, reaching $53.25. The stock had a trading volume of 1,536,288 shares, compared to its average volume of 12,445,095. CVS Health Corp has a one year low of $51.72 and a one year high of $82.15. The stock has a market capitalization of $70.05 billion, a P/E ratio of 7.52, a P/E/G ratio of 1.09 and a beta of 0.88. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business had revenue of $61.65 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period last year, the business earned $1.48 EPS. The company’s revenue was up 34.8% compared to the same quarter last year. On average, research analysts forecast that CVS Health Corp will post 6.85 EPS for the current year.
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About CVS Health
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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