Manning & Napier Advisors LLC Acquires Shares of 90,000 CVS Health Corporation (NYSE:CVS)

Manning & Napier Advisors LLC purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,000 shares of the pharmacy operator's stock, valued at approximately $6,098,000.

Several other institutional investors and hedge funds have also modified their holdings of CVS. LaFleur & Godfrey LLC grew its position in CVS Health by 49.9% during the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock worth $217,000 after buying an additional 1,610 shares in the last quarter. Fisher Funds Management LTD acquired a new stake in shares of CVS Health during the 4th quarter worth $5,103,000. TCW Group Inc. grew its holdings in shares of CVS Health by 2.5% during the 4th quarter. TCW Group Inc. now owns 17,601 shares of the pharmacy operator's stock worth $790,000 after purchasing an additional 435 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth $166,000. Finally, Wealthspire Advisors LLC grew its stake in CVS Health by 10.1% during the fourth quarter. Wealthspire Advisors LLC now owns 15,962 shares of the pharmacy operator's stock worth $717,000 after buying an additional 1,468 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 0.2%

NYSE:CVS opened at $66.69 on Monday. The firm's 50 day simple moving average is $64.92 and its 200 day simple moving average is $60.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a market cap of $84.36 billion, a PE ratio of 15.92, a P/E/G 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, topping analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 earnings per share. On average, research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, UBS Group raised their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Two investment 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's stock. Based on data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $74.75.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.

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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