Orrstown Financial Services Inc. reduced its position in shares of CVS Health Co. (NYSE: CVS – Get Rating) by 13.4% during the first quarter, HoldingsChannel reports. The company held 6,601 shares of the drugstore operator’s stock after selling 1,024 shares during the quarter. Orrstown Financial Services Inc.’s holdings in CVS Health were worth $668,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also recently changed their positions in the company. West Bancorporation Inc. purchased a new position in CVS Health stock during the fourth quarter for $25,000. Claremont Financial Group Inc. bought a new position in shares of CVS Health during the fourth quarter at a value of $26,000. Stuart Chaussee & Associates Inc. increased its equity stake in CVS Health by 123.0% during the first quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator worth $31,000 after acquiring an additional 171 shares during the period. Capital Advisors Ltd. LLC increased its holdings of CVS Health shares by 125.7% during the fourth quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator worth $33,000 after acquiring an additional 176 shares during the period. Finally, Steph & Co. increased its equity stake in CVS Health by 138.7% during the fourth quarter. Steph & Co. now owns 358 shares of the drugstore operator worth $37,000 after acquiring 208 additional shares during the period. 78.00% of the shares are currently held by institutional investors.
In other news, Executive Vice Chairman Daniel P. Finke sold 55,359 shares of the company in a trade dated Monday, April 4. The stock was sold at an average price of $100.13, for a total value of $5,543,096.67. Following the completion of the sale, the executive vice president now directly owns 3,098 shares of the company, valued at approximately $310,202.74. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, Executive Vice Chairman Prem S. Shah sold 5,346 shares of the company in a trade dated Wednesday, March 30. The shares were sold at an average price of $104.70, for a total value of $559,726.20. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 77,659 shares of the company valued at $7,882,993. 0.69% of the shares are held by insiders.
NYSE:CVS shares opened at $91.08 on Wednesday. The company has a market capitalization of $119.43 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.40 and a beta of 0.78. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt ratio of 0.70. CVS Health Co. has a 12 month minimum of $79.33 and a 12 month maximum of $111.25. The company has a fifty-day simple moving average of $97.35 and a 200-day simple moving average of $101.49.
CVS Health (NYSE:CVS – Get Rating) last announced its results on Wednesday, May 4. The drugstore operator reported earnings per share (EPS) of $2.22 for the quarter, beating the consensus estimate of $2.14 by $0.08. The company posted revenue of $76.83 billion in the quarter, versus analyst estimates of $75.30 billion. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. CVS Health’s revenue for the quarter increased 11.2% compared to the same quarter last year. During the same period last year, the company achieved EPS of $2.04. As a group, equity research analysts expect CVS Health Co. to post EPS of 8.33 for the current year.
A number of equity research analysts have recently commented on the stock. StockNews.com assumed stock coverage from CVS Health in a Thursday, March 31 report. They have set a “Strong Buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised its price target on CVS Health shares from $110.00 to $113.00 in a report Thursday, May 5. Loop Capital began covering CVS Health shares in a research note on Thursday, June 16. They issued a “buy” rating and a price target of $120.00 on the stock. Tigress Financial raised its price target on CVS Health shares from $122.00 to $125.00 in a Thursday, April 7 research note. Finally, Sanford C. Bernstein downgraded CVS Health shares from an “outperform” rating to a “market performer” rating and lowered its price target for the company from $122.00 to $112.00. in a Thursday, May 26, research report. Four investment analysts gave the stock a hold rating, seventeen gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.05.
About CVS Health (Get a rating)
CVS Health Corporation provides healthcare services in the United States. The Company’s Healthcare Benefits segment offers traditional, voluntary and consumer health insurance products and related services. It serves groups of employers, individuals, students, part-time and hourly workers, health plans, health care providers, government units, government-sponsored plans, labor groups and expatriates.
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