Inlight Wealth Management LLC Sells 8,581 Shares of CVS Health Corporation (NYSE:CVS)

Inlight Wealth Management LLC cut its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,656 shares of the pharmacy operator's stock after selling 8,581 shares during the period. CVS Health makes up approximately 0.8% of Inlight Wealth Management LLC's portfolio, making the stock its 25th biggest position. Inlight Wealth Management LLC's holdings in CVS Health were worth $2,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Norges Bank bought a new stake in CVS Health in the 4th quarter valued at about $839,574,000. Capital World Investors increased its position in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Davis Selected Advisers increased its position in CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Dodge & Cox increased its position in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CVS shares. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. UBS Group boosted their price objective on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone bought 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 completion of the transaction, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Price Performance

Shares of NYSE CVS opened at $66.69 on Friday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The stock's 50 day moving average price is $64.92 and its 200-day moving average price is $60.42. The company has a market capitalization of $84.36 billion, a PE ratio of 15.92, a PEG ratio of 0.95 and a beta of 0.56. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last posted 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 return on equity of 10.59% and a net margin of 1.39%. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current 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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