Pallas Capital Advisors LLC Has $8.02 Million Stock Position in CVS Health Co. (NYSE:CVS)

Pallas Capital Advisors LLC increased its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,318 shares of the pharmacy operator’s stock after purchasing an additional 649 shares during the period. CVS Health makes up about 1.0% of Pallas Capital Advisors LLC’s holdings, making the stock its 21st biggest position. Pallas Capital Advisors LLC’s holdings in CVS Health were worth $8,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Octavia Wealth Advisors LLC grew its stake in CVS Health by 2.2% during the first quarter. Octavia Wealth Advisors LLC now owns 18,953 shares of the pharmacy operator’s stock worth $1,918,000 after purchasing an additional 413 shares during the period. Epic Trust Investment Advisors LLC acquired a new stake in CVS Health during the first quarter worth approximately $293,000. Jackson Square Capital LLC grew its stake in CVS Health by 3.0% during the first quarter. Jackson Square Capital LLC now owns 18,887 shares of the pharmacy operator’s stock worth $1,912,000 after purchasing an additional 545 shares during the period. Sigma Planning Corp grew its stake in CVS Health by 1.2% in the first quarter. Sigma Planning Corp now owns 58,612 shares of the pharmacy operator’s stock valued at $5,932,000 after acquiring an additional 702 shares during the period. Finally, Capital City Trust Co. FL grew its stake in CVS Health by 1.4% in the first quarter. Capital City Trust Co. FL now owns 30,596 shares of the pharmacy operator’s stock valued at $3,096,000 after acquiring an additional 433 shares during the period. 78.00% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on CVS. Sanford C. Bernstein cut CVS Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $122.00 to $112.00 in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft raised their price objective on CVS Health from $110.00 to $113.00 in a research note on Thursday, May 5th. Loop Capital began coverage on CVS Health in a research note on Thursday, June 16th. They issued a “buy” rating and a $120.00 price objective for the company. Tigress Financial raised their price objective on CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. Finally, StockNews.com started coverage on CVS Health in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.05.

In other CVS Health news, EVP Daniel P. Finke sold 55,359 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $100.13, for a total value of $5,543,096.67. Following the sale, the executive vice president now directly owns 3,098 shares in the company, valued at $310,202.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Prem S. Shah sold 16,954 shares of CVS Health stock in a transaction on Friday, April 8th. The shares were sold at an average price of $105.00, for a total value of $1,780,170.00. Following the completion of the transaction, the executive vice president now owns 43,453 shares of the company’s stock, valued at $4,562,565. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,967 shares of company stock worth $20,495,397. Corporate insiders own 0.69% of the company’s stock.

Shares of CVS Health stock opened at $92.66 on Friday. The business’s fifty day simple moving average is $95.76 and its 200 day simple moving average is $101.33. The firm has a market capitalization of $121.51 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.78. CVS Health Co. has a 12 month low of $79.33 and a 12 month high of $111.25. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.70.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08. The business had revenue of $76.83 billion for the quarter, compared to 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $2.04 earnings per share. Analysts predict that CVS Health Co. will post 8.34 EPS for the current fiscal year.

About CVS Health (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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