SteelPeak Wealth LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,495 shares of the pharmacy operator's stock, valued at approximately $1,475,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator's stock worth $9,293,299,000 after acquiring an additional 533,659 shares in the last quarter. Capital World Investors raised its holdings in CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator's stock worth $3,201,410,000 after buying an additional 119,631 shares during the period. Capital International Investors lifted its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator's stock valued at $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of CVS Health by 2.2% in the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator's stock valued at $987,041,000 after buying an additional 303,512 shares during the period. Finally, Norges Bank acquired a new stake in shares of CVS Health during the fourth quarter worth $1,092,040,000. Institutional investors and hedge funds own 80.66% of the company's stock.
Insiders Place Their Bets
In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company's stock.
CVS Health Stock Performance
Shares of NYSE CVS traded down $0.92 during mid-day trading on Monday, reaching $58.14. 8,336,681 shares of the company were exchanged, compared to its average volume of 12,072,330. The stock has a market capitalization of $72.99 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.56 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company's 50-day simple moving average is $59.56 and its 200-day simple moving average is $70.13. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company's revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, research analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Truist Financial reiterated a "buy" rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Robert W. Baird assumed coverage on CVS Health in a research report on Thursday, May 30th. They issued a "neutral" rating and a $61.00 target price on the stock. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. Cantor Fitzgerald reissued a "neutral" rating and issued a $58.00 price objective on shares of CVS Health in a research report on Wednesday, June 12th. Finally, Barclays decreased their target price on shares of CVS Health from $78.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.05.
Read Our Latest Stock Analysis on CVS
About CVS Health
(
Free Report)
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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