HBK Sorce Advisory LLC Reduces Holdings in CVS Health Corporation (NYSE:CVS)

HBK Sorce Advisory LLC reduced its holdings in shares of CVS Health Corporation (NYSE:CVS) by 1.9% in the first quarter, Holdings Channel reports. The institutional investor owned 27,781 shares of the pharmacy operator’s stock after selling 552 shares during the period. HBK Sorce Advisory LLC’s holdings in CVS Health were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Dodge & Cox increased its stake in shares of CVS Health by 11.2% in the 4th 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 grew its holdings in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Geode Capital Management LLC increased its position in CVS Health by 2.6% in 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 buying an additional 689,867 shares in the last quarter. Capital International Investors lifted its position in shares of CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after acquiring an additional 6,475,271 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $66.44 on Thursday. The business has a 50 day simple moving average of $64.81 and a two-hundred day simple moving average of $60.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The stock has a market capitalization of $84.05 billion, a PE ratio of 15.86, a P/E/G ratio of 0.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping 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 firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period in the previous year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CVS. Royal Bank Of Canada raised their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Robert W. Baird raised their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Piper Sandler upped their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

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.