12,000 Shares in CVS Health Corporation (NYSE:CVS) Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,000 shares of the pharmacy operator's stock, valued at approximately $813,000. CVS Health comprises approximately 2.7% of Connective Portfolio Management LLC's investment portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its stake in shares of CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock worth $217,000 after acquiring an additional 1,610 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of CVS Health by 62.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator's stock worth $2,790,000 after acquiring an additional 23,849 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of CVS Health by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 603,225 shares of the pharmacy operator's stock worth $27,079,000 after acquiring an additional 20,955 shares during the last quarter. Cromwell Holdings LLC purchased a new position in shares of CVS Health during the 4th quarter worth $117,000. Finally, Compass Planning Associates Inc purchased a new position in shares of CVS Health during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.22% of the company's stock.

CVS Health Stock Down 0.2%

Shares of CVS stock opened at $66.69 on Friday. The stock has a market cap of $84.36 billion, a P/E ratio of 15.92, a PEG ratio of 0.96 and a beta of 0.56. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company's fifty day simple moving average is $64.92 and its two-hundred day simple moving average is $60.40.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period in the previous year, the firm posted $1.31 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho raised their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Piper Sandler raised their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Royal Bank Of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. UBS Group raised their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Barclays set a $79.00 price objective on shares of CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $74.75.

About CVS Health

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.

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