United Capital Financial Advisers LLC Increases Stake in CVS Health Corp (NYSE:CVS)

United Capital Financial Advisers LLC lifted its stake in shares of CVS Health Corp (NYSE:CVS) by 20.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 624,893 shares of the pharmacy operator’s stock after buying an additional 108,031 shares during the period. United Capital Financial Advisers LLC’s holdings in CVS Health were worth $34,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in shares of CVS Health by 1.1% during the second quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock valued at $998,699,000 after buying an additional 205,275 shares during the last quarter. Geode Capital Management LLC raised its position in CVS Health by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after acquiring an additional 4,376,604 shares during the period. Nordea Investment Management AB raised its position in CVS Health by 2.8% in the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after acquiring an additional 340,315 shares during the period. Veritas Asset Management LLP raised its position in CVS Health by 0.7% in the second quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock worth $668,579,000 after acquiring an additional 90,700 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in CVS Health by 4.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 11,316,297 shares of the pharmacy operator’s stock worth $616,626,000 after acquiring an additional 491,729 shares during the period. Institutional investors own 76.06% of the company’s stock.

Several brokerages have recently commented on CVS. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Mizuho set a $71.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, June 5th. Morgan Stanley reaffirmed a “buy” rating and set a $74.00 target price on shares of CVS Health in a research note on Sunday, August 11th. ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Finally, Deutsche Bank initiated coverage on shares of CVS Health in a research note on Thursday. They set a “buy” rating and a $91.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.91.

Shares of NYSE:CVS traded up $0.09 on Friday, reaching $63.99. The company’s stock had a trading volume of 3,471,830 shares, compared to its average volume of 7,689,623. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15. The company has a market cap of $82.71 billion, a P/E ratio of 9.04, a PEG ratio of 1.39 and a beta of 0.85. The company has a 50-day simple moving average of $59.26 and a 200 day simple moving average of $55.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion during the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the business earned $1.69 EPS. On average, equities research analysts forecast that CVS Health Corp will post 6.96 EPS for the current fiscal year.

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.

Further Reading: When can a hold rating present a buying opportunity?

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

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