Illinois Municipal Retirement Fund Decreases Position in CVS Health Corporation (NYSE:CVS)

Illinois Municipal Retirement Fund trimmed its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 247,796 shares of the pharmacy operator's stock after selling 59,310 shares during the quarter. Illinois Municipal Retirement Fund's holdings in CVS Health were worth $16,788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter worth $29,000. McIlrath & Eck LLC raised its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of CVS Health by 63.9% in the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after acquiring an additional 289 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of CVS Health by 147.2% in the first quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock worth $51,000 after acquiring an additional 446 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its holdings in shares of CVS Health by 228.0% in the first quarter. Atwood & Palmer Inc. now owns 820 shares of the pharmacy operator's stock worth $56,000 after acquiring an additional 570 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of a number of analyst reports. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Barclays set a $79.00 target price on CVS Health and gave the company an "overweight" rating in a research note on Monday, June 2nd. Robert W. Baird upped their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. UBS Group upped their target price on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.75.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director now owns 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of NYSE CVS opened at $68.13 on Friday. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The business has a 50-day moving average of $64.83 and a 200-day moving average of $60.70. 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 company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.95 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The firm 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%. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 earnings per share. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Company Profile

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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