Avity Investment Management Inc. Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Avity Investment Management Inc. raised its holdings in CVS Health Co. (NYSE:CVS) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,351 shares of the pharmacy operator’s stock after purchasing an additional 648 shares during the period. CVS Health accounts for about 1.7% of Avity Investment Management Inc.’s holdings, making the stock its 26th biggest position. Avity Investment Management Inc.’s holdings in CVS Health were worth $20,686,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CVS. Norges Bank purchased a new position in CVS Health during the fourth quarter valued at approximately $1,092,040,000. Capital International Investors grew its stake in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares in the last quarter. Clearbridge Investments LLC grew its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares in the last quarter. Junto Capital Management LP bought a new stake in CVS Health during the fourth quarter valued at approximately $111,209,000. Finally, International Assets Investment Management LLC lifted its position in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.2 %

Shares of NYSE:CVS traded up $0.70 during midday trading on Friday, reaching $59.06. The company’s stock had a trading volume of 14,343,538 shares, compared to its average volume of 11,322,786. The firm has a 50 day moving average of $59.56 and a 200-day moving average of $70.19. The firm 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. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVS. The Goldman Sachs Group dropped their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company 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. Barclays dropped their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Buying and Selling

In related news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

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.