QRG Capital Management Inc. Reduces Holdings in CVS Health Corporation (NYSE:CVS)

QRG Capital Management Inc. cut its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 66.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,912 shares of the pharmacy operator's stock after selling 67,406 shares during the quarter. QRG Capital Management Inc.'s holdings in CVS Health were worth $2,298,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. LaFleur & Godfrey LLC lifted its holdings in 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 last quarter. Principal Securities Inc. lifted its stake in shares of CVS Health by 3.2% in the 4th quarter. Principal Securities Inc. now owns 27,881 shares of the pharmacy operator's stock valued at $1,252,000 after purchasing an additional 859 shares during the last quarter. Allworth Financial LP grew its holdings in shares of CVS Health by 23.7% during the 4th quarter. Allworth Financial LP now owns 21,795 shares of the pharmacy operator's stock worth $978,000 after purchasing an additional 4,182 shares during the period. Atria Wealth Solutions Inc. increased its position 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 purchasing an additional 23,849 shares during the last quarter. Finally, Kestra Investment Management LLC raised its holdings in CVS Health by 25.5% in the 4th quarter. Kestra Investment Management LLC now owns 6,806 shares of the pharmacy operator's stock valued at $306,000 after buying an additional 1,384 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. 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. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. UBS Group lifted 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. Finally, Morgan Stanley restated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction dated 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 acquisition, the director now owns 12,007 shares in the company, valued at $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 can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Stock Down 0.2%

Shares of CVS stock traded down $0.15 during trading hours on Friday, reaching $66.69. 11,828,346 shares of the stock were exchanged, compared to its average volume of 10,963,290. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The business's fifty day moving average is $64.92 and its two-hundred day moving average is $60.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The firm has a market capitalization of $84.36 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.96 and a beta of 0.56.

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, beating analysts' consensus estimates 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 revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. As a group, research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

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.