Sumitomo Mitsui Trust Group Inc. Buys 40,734 Shares of CVS Health Corporation (NYSE:CVS)

Sumitomo Mitsui Trust Group Inc. grew its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,495,427 shares of the pharmacy operator's stock after purchasing an additional 40,734 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of CVS Health worth $236,815,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Confluence Wealth Services Inc. increased its position in CVS Health by 131.7% during the first quarter. Confluence Wealth Services Inc. now owns 9,541 shares of the pharmacy operator's stock worth $626,000 after acquiring an additional 5,423 shares during the period. Crescent Grove Advisors LLC increased its position in CVS Health by 5.3% during the first quarter. Crescent Grove Advisors LLC now owns 6,276 shares of the pharmacy operator's stock worth $425,000 after acquiring an additional 315 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in CVS Health by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 149,343 shares of the pharmacy operator's stock worth $10,027,000 after acquiring an additional 16,698 shares during the period. Achmea Investment Management B.V. grew its stake in CVS Health by 23.2% during the first quarter. Achmea Investment Management B.V. now owns 130,810 shares of the pharmacy operator's stock worth $8,862,000 after buying an additional 24,667 shares in the last quarter. Finally, Quilter Plc acquired a new stake in CVS Health during the first quarter worth about $203,000. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 0.5%

CVS opened at $68.50 on Friday. The company's 50 day moving average is $64.86 and its 200-day moving average is $60.86. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. 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 has a market cap of $86.66 billion, a P/E ratio of 16.35, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $93.07 billion. During the same period last year, the company earned $1.31 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the business's 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 transaction, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents 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 at this hyperlink. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Robert W. Baird increased their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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