CVS Health Co. (NYSE:CVS) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its position in CVS Health Co. (NYSE:CVS) by 36.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,797 shares of the pharmacy operator’s stock after selling 14,662 shares during the period. Perpetual Ltd’s holdings in CVS Health were worth $2,058,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC increased its holdings in shares of CVS Health by 2,763.2% in the third quarter. V Square Quantitative Management LLC now owns 3,035 shares of the pharmacy operator’s stock valued at $212,000 after buying an additional 2,929 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of CVS Health by 4.3% in the third quarter. Acadian Asset Management LLC now owns 317,865 shares of the pharmacy operator’s stock valued at $22,192,000 after buying an additional 13,224 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of CVS Health by 9.0% in the third quarter. Motley Fool Asset Management LLC now owns 33,013 shares of the pharmacy operator’s stock valued at $2,305,000 after buying an additional 2,723 shares in the last quarter. Mystic Asset Management Inc. increased its holdings in shares of CVS Health by 4.0% in the third quarter. Mystic Asset Management Inc. now owns 16,284 shares of the pharmacy operator’s stock valued at $1,137,000 after buying an additional 621 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of CVS Health by 11.0% in the third quarter. Federated Hermes Inc. now owns 1,200,978 shares of the pharmacy operator’s stock valued at $83,852,000 after buying an additional 119,415 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS stock remained flat at $61.01 during mid-day trading on Thursday. 6,899,399 shares of the company’s stock were exchanged, compared to its average volume of 12,068,604. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a 50 day simple moving average of $60.62 and a 200-day simple moving average of $70.71. The company has a market cap of $76.59 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $2.20 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health Co. will post 7.02 EPS for the current fiscal year.

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Bank of America cut their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Wells Fargo & Company cut their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $75.05.

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.