Redwood Wealth Management Group LLC Buys New Stake in CVS Health Corporation (NYSE:CVS)

Redwood Wealth Management Group LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,231 shares of the pharmacy operator’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in CVS Health during the fourth quarter worth approximately $839,574,000. Capital World Investors raised 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 worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Davis Selected Advisers lifted its position in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after buying an additional 11,018,438 shares during the last quarter. Dodge & Cox boosted its holdings 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 valued at $3,147,054,000 after buying an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of CVS Health by 49.3% in 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 buying an additional 6,475,271 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVS shares. Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. 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. Truist Financial upped their target price on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Barclays set a $79.00 price target on CVS Health and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Finally, Robert W. Baird boosted their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

CVS Health Price Performance

Shares of NYSE CVS opened at $66.91 on Thursday. The stock has a fifty day moving average price of $65.02 and a 200 day moving average price of $60.30. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The company has a market cap of $84.64 billion, a PE ratio of 15.97, a P/E/G ratio of 0.96 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping 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 company had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter last year, the business earned $1.31 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 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, with a total value of $100,009.00. Following the acquisition, the director now directly owns 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 Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

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.