Free Trial

Concurrent Investment Advisors LLC Sells 33,826 Shares of CVS Health Corporation (NYSE:CVS)

CVS Health logo with Medical background

Concurrent Investment Advisors LLC decreased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 71.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,422 shares of the pharmacy operator's stock after selling 33,826 shares during the period. Concurrent Investment Advisors LLC's holdings in CVS Health were worth $909,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter valued at about $29,000. McIlrath & Eck LLC grew its stake in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the last quarter. Park Square Financial Group LLC bought a new position in CVS Health in the 4th quarter valued at about $43,000. PARK CIRCLE Co lifted its position in CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its holdings in shares of CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.4%

NYSE CVS traded down $0.29 on Wednesday, reaching $66.65. The company had a trading volume of 6,329,968 shares, compared to its average volume of 10,809,033. The firm has a market cap of $84.31 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The business has a 50 day moving average of $65.18 and a two-hundred day moving average of $61.90.

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, topping analysts' consensus estimates of $1.62 by $0.63. The company 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. Analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.99%. CVS Health's dividend payout ratio is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. UBS Group upped their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Robert W. Baird increased their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Finally, Truist Financial lifted their price target 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. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

Read Our Latest Report on CVS Health

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated 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 transaction, the director directly owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.22% of the company's stock.

About CVS Health

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Should You Invest $1,000 in CVS Health Right Now?

Before you consider CVS Health, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.

While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead
3 Made in America Stocks Under $20 You Need to See!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines