Tritonpoint Wealth LLC Purchases New Shares in CVS Health Corporation (NYSE:CVS)

Tritonpoint Wealth LLC bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,776 shares of the pharmacy operator's stock, valued at approximately $256,000.

Other hedge funds have also recently made changes to their positions in the company. Ipswich Investment Management Co. Inc. purchased a new position in CVS Health during the 1st quarter worth $206,000. CVA Family Office LLC grew its position in shares of CVS Health by 43.4% during the 1st quarter. CVA Family Office LLC now owns 5,336 shares of the pharmacy operator's stock worth $362,000 after buying an additional 1,614 shares in the last quarter. Krilogy Financial LLC purchased a new position in shares of CVS Health during the first quarter valued at $1,046,000. Defined Wealth Management LLC bought a new stake in shares of CVS Health in the first quarter valued at about $240,000. Finally, F&V Capital Management LLC lifted its stake in CVS Health by 5.7% in the first quarter. F&V Capital Management LLC now owns 143,249 shares of the pharmacy operator's stock worth $9,705,000 after acquiring an additional 7,735 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $74.75.

CVS Health Stock Performance

NYSE CVS traded down $0.19 on Thursday, reaching $66.91. 5,208,935 shares of the company's stock traded hands, compared to its average volume of 10,943,569. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.96 and a beta of 0.56. The stock has a 50 day moving average price of $65.02 and a 200-day moving average price of $60.30.

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

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director now owns 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

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.