Bessemer Group Inc. Lowers Stock Position in CVS Health Corporation (NYSE:CVS)

Bessemer Group Inc. cut its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 59.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,148 shares of the pharmacy operator's stock after selling 39,469 shares during the period. Bessemer Group Inc.'s holdings in CVS Health were worth $1,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. McIlrath & Eck LLC grew its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Horizon Bancorp Inc. IN grew its position in CVS Health by 7.4% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after buying an additional 180 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in CVS Health by 17.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after buying an additional 189 shares during the last quarter. Strategic Investment Advisors MI grew its position in CVS Health by 2.3% in the 1st quarter. Strategic Investment Advisors MI now owns 8,466 shares of the pharmacy operator's stock valued at $574,000 after buying an additional 194 shares during the last quarter. Finally, EagleClaw Capital Managment LLC grew its position in CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $275,000 after buying an additional 200 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director now owns 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVS shares. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. UBS Group lifted 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. Truist Financial lifted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Finally, Mizuho lifted 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. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

CVS Health Trading Up 0.5%

NYSE:CVS opened at $68.50 on Friday. The company has a market capitalization of $86.66 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The stock has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $60.86.

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

CVS Health 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.

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