Carret Asset Management LLC cut its position in CVS Health Corporation (NYSE:CVS - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,156 shares of the pharmacy operator's stock after selling 13,886 shares during the quarter. Carret Asset Management LLC's holdings in CVS Health were worth $2,382,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in CVS Health in the 4th quarter valued at about $29,000. McIlrath & Eck LLC lifted its position 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 purchasing an additional 174 shares during the last quarter. Compass Planning Associates Inc bought a new stake in CVS Health in the 4th quarter valued at about $37,000. Providence First Trust Co bought a new stake in CVS Health in the 4th quarter valued at about $42,000. Finally, Park Square Financial Group LLC bought a new stake in CVS Health in the 4th quarter valued at about $43,000. 80.66% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Robert W. Baird boosted their price target 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. UBS Group boosted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $74.75.
View Our Latest Analysis on CVS
CVS Health Stock Down 0.2%
CVS stock opened at $66.69 on Friday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company's 50 day simple moving average is $64.92 and its 200-day simple moving average is $60.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The firm has a market capitalization of $84.36 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.96 and a beta of 0.56.
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, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.
Insider Buying and Selling at CVS Health
In related news, Director Guy P. Sansone acquired 1,570 shares of the company'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 purchase, the director now owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company's stock.
CVS Health 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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