CVS Health Corporation (NYSE:CVS) Shares Purchased by Strategic Investment Advisors MI

Strategic Investment Advisors MI raised its stake in CVS Health Corporation (NYSE:CVS) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,466 shares of the pharmacy operator’s stock after acquiring an additional 194 shares during the quarter. Strategic Investment Advisors MI’s holdings in CVS Health were worth $574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $29,000. McIlrath & Eck LLC lifted its position in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares during the period. MV Capital Management Inc. lifted its position in CVS Health by 63.9% during the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock worth $50,000 after buying an additional 289 shares during the period. Dunhill Financial LLC grew its holdings in CVS Health by 147.2% in the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator’s stock valued at $51,000 after buying an additional 446 shares during the period. Finally, Atwood & Palmer Inc. increased its stake in shares of CVS Health by 228.0% during the 1st quarter. Atwood & Palmer Inc. now owns 820 shares of the pharmacy operator’s stock valued at $56,000 after acquiring an additional 570 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVS shares. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Robert W. Baird lifted 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. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

CVS Health Trading Down 1.7%

NYSE CVS opened at $66.44 on Thursday. The stock has a market cap of $84.05 billion, a P/E ratio of 15.86, a PEG ratio of 0.97 and a beta of 0.56. The company’s fifty day simple moving average is $64.81 and its 200-day simple moving average is $60.62. 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 Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

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

Insider Activity

In related news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director now directly owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

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.