CVS Health Corporation (NYSE:CVS) Stock Holdings Lifted by Spire Wealth Management

Spire Wealth Management grew its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 483.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,340 shares of the pharmacy operator's stock after purchasing an additional 59,943 shares during the quarter. Spire Wealth Management's holdings in CVS Health were worth $4,901,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CVS. Daymark Wealth Partners LLC boosted its stake in CVS Health by 24.2% in the 1st quarter. Daymark Wealth Partners LLC now owns 32,967 shares of the pharmacy operator's stock worth $2,233,000 after buying an additional 6,430 shares during the last quarter. Strategic Investment Advisors MI raised its holdings in CVS Health by 2.3% in the first quarter. Strategic Investment Advisors MI now owns 8,466 shares of the pharmacy operator's stock valued at $574,000 after buying an additional 194 shares during the period. Horizon Bancorp Inc. IN raised its position in CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock valued at $177,000 after purchasing an additional 180 shares during the period. International Assets Investment Management LLC lifted its position in CVS Health by 25.0% during the 1st quarter. International Assets Investment Management LLC now owns 13,995 shares of the pharmacy operator's stock worth $948,000 after acquiring an additional 2,798 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in CVS Health in the 1st quarter worth $230,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.87 during mid-day trading on Thursday, reaching $68.24. 2,070,133 shares of the company traded hands, compared to its average volume of 10,471,975. The firm has a market cap of $86.33 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.97 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 fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a fifty day simple moving average of $64.81 and a 200-day simple moving average of $60.62.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.31 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Insider Activity

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director now owns 12,007 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVS shares. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. UBS Group increased their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Robert W. Baird upped their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Piper Sandler raised 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. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $74.75.

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.