Power Corp of Canada Makes New Investment in CVS Health Co. (NYSE:CVS)

Power Corp of Canada bought a new position in shares of CVS Health Co. (NYSE:CVS – Get Rating) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,774 shares of the pharmacy operator’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of CVS Health by 105.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock worth $27,000 after buying an additional 146 shares during the period. Karp Capital Management Corp bought a new position in shares of CVS Health during the 3rd quarter worth approximately $30,000. Coston McIsaac & Partners bought a new position in shares of CVS Health during the 2nd quarter worth approximately $34,000. Moisand Fitzgerald Tamayo LLC lifted its position in shares of CVS Health by 63.6% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 143 shares during the period. Finally, Providence First Trust Co bought a new position in shares of CVS Health during the 3rd quarter worth approximately $42,000. Institutional investors own 77.29% of the company’s stock.

CVS Health Stock Down 0.2 %

Shares of CVS Health stock opened at $75.40 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.71. CVS Health Co. has a 12 month low of $74.52 and a 12 month high of $109.69. The business has a fifty day simple moving average of $86.04 and a 200 day simple moving average of $93.35. The stock has a market cap of $96.82 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65.

CVS Health (NYSE:CVS – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The business had revenue of $83.85 billion during the quarter, compared to analysts’ expectations of $76.37 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts predict that CVS Health Co. will post 8.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of CVS Health in a report on Thursday, February 9th. TheStreet raised CVS Health from a “c+” rating to a “b” rating in a report on Friday, November 25th. Barclays dropped their price target on CVS Health from $118.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, February 9th. Finally, Jefferies Financial Group raised their price target on CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.65.

CVS Health Company Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.