CVS Health Corporation (NYSE:CVS) Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp decreased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,752 shares of the pharmacy operator’s stock after selling 440 shares during the quarter. Money Concepts Capital Corp’s holdings in CVS Health were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in CVS Health during the 4th quarter worth $839,574,000. Capital World Investors increased its stake in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers increased its stake in 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 period. Dodge & Cox increased its stake in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC increased its stake in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after buying an additional 6,475,271 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director now directly owns 12,007 shares of the company’s stock, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is owned by company insiders.

CVS Health Stock Up 0.5%

CVS stock opened at $68.50 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market cap of $86.66 billion, a PE ratio of 16.35, a P/E/G ratio of 0.98 and a beta of 0.56. The firm has a 50 day simple moving average of $64.86 and a 200 day simple moving average of $60.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

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, beating 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 business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVS. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. UBS Group boosted their target price 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. Wells Fargo & Company reissued an “overweight” rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.75.

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.