Janney Montgomery Scott LLC Grows Stock Holdings in CVS Health Corporation (NYSE:CVS)

Janney Montgomery Scott LLC lifted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 315,098 shares of the pharmacy operator's stock after purchasing an additional 56,156 shares during the period. Janney Montgomery Scott LLC's holdings in CVS Health were worth $21,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M.E. Allison & CO. Inc. lifted its stake in shares of CVS Health by 13.8% in the first quarter. M.E. Allison & CO. Inc. now owns 7,023 shares of the pharmacy operator's stock valued at $476,000 after purchasing an additional 850 shares during the period. Mission Wealth Management LP acquired a new stake in shares of CVS Health in the first quarter valued at about $259,000. Brown Miller Wealth Management LLC acquired a new stake in shares of CVS Health in the first quarter valued at about $256,000. Brighton Jones LLC lifted its stake in shares of CVS Health by 19.6% in the first quarter. Brighton Jones LLC now owns 9,124 shares of the pharmacy operator's stock valued at $618,000 after purchasing an additional 1,494 shares during the period. Finally, Factory Mutual Insurance Co. increased its holdings in CVS Health by 123.2% during the 1st quarter. Factory Mutual Insurance Co. now owns 449,243 shares of the pharmacy operator's stock valued at $30,436,000 after acquiring an additional 248,000 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 0.2%

Shares of NYSE CVS traded down $0.15 during midday trading on Friday, reaching $66.69. 11,828,346 shares of the stock were exchanged, compared to its average volume of 10,923,499. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The stock has a 50 day moving average price of $64.92 and a 200-day moving average price of $60.42. The company has a market capitalization of $84.36 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 0.56. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last released its 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 firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. CVS Health's revenue was up 7.0% compared to the same quarter last year. Equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVS shares. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. UBS Group raised their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Royal Bank Of Canada raised their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Truist Financial raised their target price 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. Finally, Barclays set a $79.00 target price on shares of CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus target price of $74.75.

CVS Health 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.