Olstein Capital Management L.P. Has $10.29 Million Holdings in CVS Health Co. (NYSE:CVS)

Olstein Capital Management L.P. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 129,000 shares of the pharmacy operator’s stock after selling 13,000 shares during the quarter. CVS Health comprises approximately 1.7% of Olstein Capital Management L.P.’s holdings, making the stock its 8th largest position. Olstein Capital Management L.P.’s holdings in CVS Health were worth $10,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of CVS Health during the fourth quarter valued at approximately $1,092,040,000. Capital International Investors raised its stake in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Clearbridge Investments LLC boosted its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Junto Capital Management LP acquired a new position in CVS Health during the fourth quarter worth about $111,209,000. Finally, International Assets Investment Management LLC raised its position in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CVS shares. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Barclays dropped their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Down 1.4 %

CVS stock traded down $0.82 during trading hours on Wednesday, hitting $56.70. The company’s stock had a trading volume of 5,371,350 shares, compared to its average volume of 11,982,187. The company has a market capitalization of $71.18 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. The stock has a 50 day moving average price of $59.12 and a two-hundred day moving average price of $69.90. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.