Valeo Financial Advisors LLC Sells 8,961 Shares of CVS Health Co. (NYSE:CVS)

Valeo Financial Advisors LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 18.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,215 shares of the pharmacy operator’s stock after selling 8,961 shares during the quarter. Valeo Financial Advisors LLC’s holdings in CVS Health were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Atticus Wealth Management LLC lifted its holdings in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas lifted its stake in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter valued at about $34,000. Finally, Steph & Co. lifted its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVS. Barclays reduced their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Down 1.4 %

Shares of CVS traded down $0.82 on Wednesday, reaching $56.70. The stock had a trading volume of 5,366,799 shares, compared to its average volume of 11,982,148. The firm has a market capitalization of $71.18 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. The company has a 50-day simple moving average of $59.12 and a 200-day simple moving average of $69.90. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

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

Insider Activity

In related news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.