Intact Investment Management Inc. lowered its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 20.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 218,900 shares of the pharmacy operator's stock after selling 55,100 shares during the period. Intact Investment Management Inc.'s holdings in CVS Health were worth $14,830,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LaFleur & Godfrey LLC boosted its holdings in shares of CVS Health by 49.9% in the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock valued at $217,000 after acquiring an additional 1,610 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of CVS Health by 62.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator's stock worth $2,790,000 after acquiring an additional 23,849 shares in the last quarter. Handelsbanken Fonder AB boosted its position in CVS Health by 3.6% during the fourth quarter. Handelsbanken Fonder AB now owns 603,225 shares of the pharmacy operator's stock worth $27,079,000 after purchasing an additional 20,955 shares in the last quarter. Cromwell Holdings LLC purchased a new stake in CVS Health in the 4th quarter valued at approximately $117,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of CVS Health in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.66% of the company's stock.
Insider Transactions at CVS Health
In other news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on CVS shares. Barclays set a $79.00 price target on CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two equities research 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. According to data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus target price of $74.75.
Read Our Latest Research Report on CVS Health
CVS Health Stock Performance
NYSE CVS traded up $0.84 during midday trading on Tuesday, hitting $67.65. The company had a trading volume of 10,266,620 shares, compared to its average volume of 10,913,448. The firm has a fifty day simple moving average of $64.88 and a two-hundred day simple moving average of $60.53. The stock has a market cap of $85.58 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.96 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 Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.
CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share 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 company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm earned $1.31 EPS. CVS Health's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
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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