CVS Health Corporation (NYSE:CVS) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 11.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 17,423 shares of the pharmacy operator’s stock after selling 2,186 shares during the quarter. Sheets Smith Wealth Management’s holdings in CVS Health were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVS. Hopwood Financial Services Inc. acquired a new position in CVS Health in the fourth quarter worth about $29,000. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% during the 4th 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 last quarter. Providence First Trust Co acquired a new position in shares of CVS Health in the 4th quarter worth approximately $42,000. Park Square Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $43,000. Finally, PARK CIRCLE Co raised its position in shares of CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS stock opened at $66.93 on Tuesday. The company has a 50-day simple moving average of $64.88 and a 200 day simple moving average of $60.53. The company has a market capitalization of $84.67 billion, a P/E ratio of 15.97, a PEG ratio of 0.95 and a beta of 0.56. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS) last issued its quarterly 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 company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Mizuho raised their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Barclays set a $79.00 price target on CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director now directly owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

About CVS Health

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.