Sumitomo Mitsui DS Asset Management Company Ltd Acquires 10,039 Shares of CVS Health Corporation (NYSE:CVS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,388 shares of the pharmacy operator's stock after purchasing an additional 10,039 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in CVS Health were worth $11,341,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CVS. Essex Financial Services Inc. raised its stake in shares of CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares in the last quarter. McIlrath & Eck LLC raised its stake in shares of 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 in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after acquiring an additional 178 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of CVS Health by 7.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after acquiring an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings in CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVS shares. Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased 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 directly owned 12,007 shares of the company's stock, 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. Company insiders own 1.22% of the company's stock.

CVS Health Price Performance

CVS traded down $2.96 on Wednesday, hitting $66.62. 10,816,468 shares of the stock were exchanged, compared to its average volume of 10,824,548. 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. The firm has a market capitalization of $84.28 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.99 and a beta of 0.57. The business has a 50-day moving average of $65.01 and a two-hundred day moving average of $61.13.

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