Everett Harris & Co. CA Cuts Holdings in CVS Health Co. (NYSE:CVS)

Everett Harris & Co. CA lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 6.0% in the first quarter, Holdings Channel reports. The institutional investor owned 23,695 shares of the pharmacy operator’s stock after selling 1,506 shares during the period. Everett Harris & Co. CA’s holdings in CVS Health were worth $1,890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Insight Folios Inc lifted its holdings in shares of CVS Health by 4.5% during the 1st quarter. Insight Folios Inc now owns 8,068 shares of the pharmacy operator’s stock valued at $644,000 after purchasing an additional 345 shares during the last quarter. Oak Harvest Investment Services raised its holdings in shares of CVS Health by 9.2% in the first quarter. Oak Harvest Investment Services now owns 3,569 shares of the pharmacy operator’s stock worth $285,000 after buying an additional 302 shares during the last quarter. RBA Wealth Management LLC raised its stake in CVS Health by 3.0% in the 1st quarter. RBA Wealth Management LLC now owns 52,815 shares of the pharmacy operator’s stock worth $4,213,000 after acquiring an additional 1,539 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in CVS Health by 7.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 33,441 shares of the pharmacy operator’s stock worth $2,667,000 after acquiring an additional 2,317 shares during the period. Finally, Kovack Advisors Inc. increased its holdings in shares of CVS Health by 6.7% in the first quarter. Kovack Advisors Inc. now owns 26,961 shares of the pharmacy operator’s stock valued at $2,150,000 after purchasing an additional 1,683 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock traded down $0.82 during midday trading on Thursday, reaching $56.70. The company had a trading volume of 5,371,350 shares, compared to its average volume of 10,197,653. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm’s fifty day simple moving average is $58.89 and its 200-day simple moving average is $69.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market capitalization of $71.18 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.55 and a beta of 0.52.

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 analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that CVS Health Co. will post 7.02 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVS shares. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Argus reduced their price objective 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. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.