CVS Health Co. (NYSE:CVS) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 14.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,059 shares of the pharmacy operator’s stock after selling 8,238 shares during the quarter. Wesbanco Bank Inc.’s holdings in CVS Health were worth $3,188,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the 4th quarter valued at $29,000. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Financial Perspectives Inc lifted its holdings in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. lifted its holdings in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVS. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $74.75.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction 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 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 filing with the SEC, which is accessible through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Trading Up 0.5%

NYSE CVS opened at $63.87 on Tuesday. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The company has a 50-day simple moving average of $65.13 and a 200-day simple moving average of $59.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market capitalization of $80.80 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. On average, equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

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.