Principal Financial Group Inc. Acquires 66,244 Shares of CVS Health Co. (NYSE:CVS)

Principal Financial Group Inc. increased its holdings in CVS Health Co. (NYSE:CVS) by 4.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,434,476 shares of the pharmacy operator’s stock after buying an additional 66,244 shares during the period. Principal Financial Group Inc.’s holdings in CVS Health were worth $90,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.3 %

Shares of NYSE:CVS opened at $44.36 on Friday. The company has a market capitalization of $55.82 billion, a PE ratio of 11.26, a PEG ratio of 0.89 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.60 and a 12-month high of $83.25. The business has a 50 day moving average of $56.24 and a two-hundred day moving average of $58.24. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 5.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVS shares. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. UBS Group raised their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.