CVS Health Corporation (NYSE:CVS) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,905 shares of the pharmacy operator's stock after buying an additional 3,748 shares during the quarter. Sequoia Financial Advisors LLC's holdings in CVS Health were worth $3,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Dodge & Cox boosted its holdings in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors boosted its holdings in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. Capital International Investors boosted its holdings in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after purchasing an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVS. Barclays set a $79.00 price target on CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. UBS Group increased their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Truist Financial increased their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.75.

CVS Health Price Performance

CVS Health stock opened at $68.50 on Friday. The business has a 50 day simple moving average of $64.86 and a 200-day simple moving average of $60.86. The stock 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 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 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data 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 firm 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%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. Equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

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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