Scharf Investments LLC decreased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 84.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,812 shares of the pharmacy operator's stock after selling 863,249 shares during the period. CVS Health makes up about 0.3% of Scharf Investments LLC's investment portfolio, making the stock its 27th largest holding. Scharf Investments LLC's holdings in CVS Health were worth $10,827,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Valmark Advisers Inc. bought a new position in shares of CVS Health during the 1st quarter worth approximately $306,000. Oppenheimer Asset Management Inc. increased its stake in CVS Health by 23.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 538,341 shares of the pharmacy operator's stock valued at $36,473,000 after buying an additional 102,470 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in CVS Health by 43.2% during the 1st quarter. JFS Wealth Advisors LLC now owns 5,522 shares of the pharmacy operator's stock worth $374,000 after buying an additional 1,665 shares in the last quarter. Avantra Family Wealth Inc. grew its holdings in shares of CVS Health by 41.7% in the 1st quarter. Avantra Family Wealth Inc. now owns 15,982 shares of the pharmacy operator's stock valued at $1,083,000 after acquiring an additional 4,704 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of CVS Health in the first quarter valued at about $226,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CVS. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Piper Sandler lifted their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Truist Financial upped their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.75.
Get Our Latest Research Report on CVS Health
Insider Activity at CVS Health
In related news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.
CVS Health Price Performance
CVS stock traded up $1.08 during midday trading on Tuesday, reaching $67.89. The company had a trading volume of 7,148,886 shares, compared to its average volume of 10,893,157. The company has a market capitalization of $85.88 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.56. 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 1-year low of $43.56 and a 1-year high of $72.51. The stock has a 50 day moving average price of $64.88 and a 200-day moving average price of $60.53.
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 (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 business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period last year, the firm posted $1.31 earnings per share. The firm's quarterly 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 year.
CVS Health Company Profile
(
Free Report)
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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