BridgePort Financial Solutions LLC Buys New Holdings in CVS Health Corporation (NYSE:CVS)

BridgePort Financial Solutions LLC bought a new stake in CVS Health Corporation (NYSE:CVS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,992 shares of the pharmacy operator’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dodge & Cox lifted its stake in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors lifted its stake in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. Capital International Investors lifted its stake in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 0.5%

NYSE:CVS opened at $66.93 on Tuesday. The firm has a market capitalization of $84.67 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.56. The stock has a 50 day moving average of $64.88 and a 200-day moving average of $60.53. CVS Health Corporation has a 52 week low of $43.56 and a 52 week 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) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share. Analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent research reports. Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. UBS Group lifted their target price on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Robert W. Baird lifted their target price on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler lifted their target price on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Two 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 stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

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.