Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in CVS Health Corporation (NYSE:CVS)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,692 shares of the pharmacy operator's stock after selling 5,458 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in CVS Health were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Manning & Napier Advisors LLC purchased a new position in shares of CVS Health during the 1st quarter worth $6,098,000. Guyasuta Investment Advisors Inc. purchased a new position in shares of CVS Health during the 1st quarter worth $229,000. Tandem Capital Management Corp ADV boosted its stake in shares of CVS Health by 34.5% during the 1st quarter. Tandem Capital Management Corp ADV now owns 30,013 shares of the pharmacy operator's stock worth $2,033,000 after acquiring an additional 7,698 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in shares of CVS Health during the 1st quarter worth $456,000. Finally, Cullinan Associates Inc. boosted its stake in shares of CVS Health by 12.2% during the 1st quarter. Cullinan Associates Inc. now owns 44,459 shares of the pharmacy operator's stock worth $3,012,000 after acquiring an additional 4,841 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $66.69 on Friday. 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 Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a 50 day moving average of $64.92 and a 200 day moving average of $60.42. The firm has a market cap of $84.36 billion, a PE ratio of 15.92, a PEG ratio of 0.95 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last posted its 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. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. 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 prior year, the company earned $1.31 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director now directly owns 12,007 shares of the company's stock, valued at $764,845.90. The trade was a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group upped their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Two investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

About CVS Health

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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