CVS Health Corporation (NYSE:CVS) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,306 shares of the pharmacy operator's stock after selling 6,018 shares during the quarter. Vontobel Holding Ltd.'s holdings in CVS Health were worth $6,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Alta Advisers Ltd purchased a new stake in shares of CVS Health during the 1st quarter valued at about $455,000. Deseret Mutual Benefit Administrators grew its position in CVS Health by 5.4% in the first quarter. Deseret Mutual Benefit Administrators now owns 14,292 shares of the pharmacy operator's stock valued at $968,000 after acquiring an additional 729 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of CVS Health during the first quarter valued at approximately $76,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CVS Health during the first quarter worth $2,065,000. Finally, Koshinski Asset Management Inc. boosted its stake in shares of CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVS. Jefferies Financial Group boosted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday. UBS Group boosted their price target on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. 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 research report on Tuesday, April 15th. Finally, Royal Bank Of Canada increased their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, eighteen have given 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 a consensus target price of $75.06.

CVS Health Stock Performance

CVS stock traded up $0.78 during mid-day trading on Friday, reaching $67.38. The company had a trading volume of 3,770,987 shares, compared to its average volume of 10,832,881. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock has a market capitalization of $85.23 billion, a P/E ratio of 16.08, a P/E/G ratio of 0.97 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock's 50-day simple moving average is $65.11 and its two-hundred day simple moving average is $61.47.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating 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 firm 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 firm posted $1.31 EPS. CVS Health's quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction on 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 transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.22% of the stock is owned by company insiders.

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.