US Asset Management LLC Takes Position in CVS Health Corporation (NYSE:CVS)

US Asset Management LLC bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,333 shares of the pharmacy operator's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Sierra Ocean LLC boosted its holdings in shares of CVS Health by 584.8% in the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock valued at $49,000 after buying an additional 614 shares during the last quarter. Proffitt & Goodson Inc. raised its position in shares of CVS Health by 11.5% in the first quarter. Proffitt & Goodson Inc. now owns 12,628 shares of the pharmacy operator's stock valued at $856,000 after buying an additional 1,307 shares in the last quarter. VAUGHAN & Co SECURITIES INC. acquired a new position in CVS Health in the first quarter valued at about $899,000. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in CVS Health during the first quarter worth $54,000. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 1.2%

CVS Health stock opened at $67.38 on Friday. The firm has a market capitalization of $85.23 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.97 and a beta of 0.57. The firm has a 50 day simple moving average of $65.11 and a 200 day simple moving average of $61.58. 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.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 earnings per share. On average, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

Insider Transactions at CVS Health

In other CVS Health 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, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CVS shares. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Truist Financial boosted their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. UBS Group raised their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.06.

About CVS Health

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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