WealthBridge Capital Management LLC Makes New Investment in CVS Health Corporation (NYSE:CVS)

WealthBridge Capital Management LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,518 shares of the pharmacy operator’s stock, valued at approximately $238,000.

A number of other large investors also recently added to or reduced their stakes in CVS. McIlrath & Eck LLC raised its position in shares of CVS Health by 32.6% in the fourth 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 last quarter. Horizon Bancorp Inc. IN raised its position in shares of CVS Health by 7.4% in the first quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 180 shares during the last quarter. Coppell Advisory Solutions LLC raised its position in shares of CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock valued at $56,000 after buying an additional 189 shares during the last quarter. Strategic Investment Advisors MI raised its position in shares of CVS Health by 2.3% in the first quarter. Strategic Investment Advisors MI now owns 8,466 shares of the pharmacy operator’s stock valued at $574,000 after buying an additional 194 shares during the last quarter. Finally, EagleClaw Capital Managment LLC raised its position in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after buying an additional 200 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.5%

NYSE CVS opened at $68.50 on Friday. The firm has a 50 day simple moving average of $64.86 and a 200-day simple moving average of $60.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The firm has a market cap of $86.66 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Mizuho raised their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. UBS Group raised their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Robert W. Baird raised their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Insider Activity

In other news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director now owns 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.22% of the company’s stock.

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.