Norway Savings Bank Trims Stake in CVS Health Corporation (NYSE:CVS)

Norway Savings Bank reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 48.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,219 shares of the pharmacy operator's stock after selling 4,044 shares during the period. Norway Savings Bank's holdings in CVS Health were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC raised 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 buying an additional 1,610 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in CVS Health by 62.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator's stock valued at $2,790,000 after acquiring an additional 23,849 shares during the last quarter. Handelsbanken Fonder AB raised its stake in CVS Health by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 603,225 shares of the pharmacy operator's stock valued at $27,079,000 after acquiring an additional 20,955 shares during the last quarter. Cromwell Holdings LLC purchased a new stake in CVS Health during the 4th quarter valued at approximately $117,000. Finally, Compass Planning Associates Inc purchased a new stake in CVS Health during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone acquired 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, with a total value of $100,009.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVS shares. Mizuho upped their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Truist Financial increased their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Robert W. Baird increased their price objective on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Two investment 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. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $74.75.

CVS Health Price Performance

Shares of NYSE CVS 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. The company's 50-day moving average price is $64.92 and its 200 day moving average price is $60.40. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market cap of $84.36 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.96 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The business 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%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. As a group, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.