Parkside Investments LLC Has $10.68 Million Stake in CVS Health Co. (NYSE:CVS)

Parkside Investments LLC boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.8% in the first quarter, HoldingsChannel reports. The firm owned 133,905 shares of the pharmacy operator’s stock after acquiring an additional 2,393 shares during the period. CVS Health makes up 1.7% of Parkside Investments LLC’s portfolio, making the stock its 17th biggest position. Parkside Investments LLC’s holdings in CVS Health were worth $10,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health in the fourth quarter valued at about $218,000. Canoe Financial LP increased its holdings in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares during the last quarter. Meritage Portfolio Management increased its holdings in CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after purchasing an additional 15,548 shares during the last quarter. Ancora Advisors LLC increased its holdings in CVS Health by 17.5% in the third quarter. Ancora Advisors LLC now owns 457,267 shares of the pharmacy operator’s stock valued at $31,926,000 after purchasing an additional 68,005 shares during the last quarter. Finally, Forum Financial Management LP increased its holdings in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 2,901 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS traded down $0.12 on Wednesday, hitting $60.32. The company’s stock had a trading volume of 3,048,302 shares, compared to its average volume of 12,007,693. The firm has a market capitalization of $75.72 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a fifty day moving average of $60.16 and a two-hundred day moving average of $70.45.

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

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Mizuho decreased their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 target price on shares of CVS Health in a research note on Wednesday, June 12th. Bank of America reduced their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

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.