Allspring Global Investments Holdings LLC trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 250,512 shares of the pharmacy operator's stock after selling 85,177 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in CVS Health were worth $17,030,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC raised its holdings in shares of CVS Health by 49.9% during the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock valued at $217,000 after buying an additional 1,610 shares during the last quarter. Fisher Asset Management LLC increased its position in CVS Health by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 81,561 shares of the pharmacy operator's stock valued at $3,661,000 after acquiring an additional 8,004 shares during the period. Smartleaf Asset Management LLC raised its stake in CVS Health by 7.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 10,725 shares of the pharmacy operator's stock valued at $471,000 after acquiring an additional 760 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in CVS Health by 28.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,552 shares of the pharmacy operator's stock worth $115,000 after acquiring an additional 569 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of CVS Health in the fourth quarter worth $195,000. Institutional investors and hedge funds own 80.66% of the company's stock.
Insider Buying and Selling
In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.22% of the company's stock.
CVS Health Trading Up 1.2%
Shares of CVS Health stock traded up $0.78 on Friday, reaching $67.38. 3,770,987 shares of the company were exchanged, compared to its average volume of 10,832,881. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market capitalization of $85.23 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.97 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $65.11 and a 200-day moving average price of $61.47.
CVS Health (NYSE:CVS - Get Free Report) last posted 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. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Barclays set a $79.00 price objective on shares of CVS Health and gave the company an "overweight" rating in a research note on Monday, June 2nd. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.06.
View Our Latest Report on CVS
CVS Health Company Profile
(
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.
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