Transcend Capital Advisors LLC Raises Stock Holdings in CVS Health Corporation (NYSE:CVS)

Transcend Capital Advisors LLC boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,382 shares of the pharmacy operator’s stock after acquiring an additional 5,428 shares during the quarter. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $1,313,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter worth about $29,000. McIlrath & Eck LLC boosted its position in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 174 shares during the period. MV Capital Management Inc. grew its stake in CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock worth $50,000 after acquiring an additional 289 shares in the last quarter. Dunhill Financial LLC increased its position in shares of CVS Health by 147.2% during the first quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator’s stock worth $51,000 after acquiring an additional 446 shares during the period. Finally, Atwood & Palmer Inc. boosted its holdings in shares of CVS Health by 228.0% in the first quarter. Atwood & Palmer Inc. now owns 820 shares of the pharmacy operator’s stock valued at $56,000 after purchasing an additional 570 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.5%

Shares of CVS Health stock opened at $68.50 on Friday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The firm’s 50 day moving average price is $64.86 and its 200-day moving average price is $60.79. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company has a market cap of $86.66 billion, a P/E ratio of 16.35, a PEG ratio of 0.98 and a beta of 0.56.

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

Insider Activity at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director now directly owns 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on CVS shares. Mizuho raised their price objective on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Piper Sandler increased their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, Barclays set a $79.00 target price on shares of CVS Health and gave the company an “overweight” rating in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target 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.