Grimes & Company Inc. Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Grimes & Company Inc. boosted its position in shares of CVS Health Co. (NYSE:CVS) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,343 shares of the pharmacy operator’s stock after acquiring an additional 8,514 shares during the period. Grimes & Company Inc.’s holdings in CVS Health were worth $21,084,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CVS. Atticus Wealth Management LLC grew its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas lifted its position in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the fourth quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health during the fourth quarter valued at approximately $34,000. Finally, Steph & Co. lifted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVS. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 target price on shares of CVS Health in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Argus lowered their price objective on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Bank of America lowered their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Trading Up 1.2 %

NYSE:CVS traded up $0.70 during midday trading on Friday, reaching $59.06. 14,343,538 shares of the stock traded hands, compared to its average volume of 11,322,786. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The company has a fifty day moving average of $59.56 and a 200 day moving average of $70.17. The stock has a market capitalization of $74.14 billion, a P/E ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.53. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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). The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, research analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% 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.