Waterway Wealth Management LLC Buys 999 Shares of CVS Health Co. (NYSE:CVS)

Waterway Wealth Management LLC increased its stake in shares of CVS Health Co. (NYSE:CVS) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,314 shares of the pharmacy operator’s stock after acquiring an additional 999 shares during the quarter. Waterway Wealth Management LLC’s holdings in CVS Health were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Atticus Wealth Management LLC grew its position in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas grew its position in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $34,000. Finally, Steph & Co. boosted its position in shares of 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 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, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVS shares. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. SVB Leerink restated a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group lowered their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Trading Up 1.2 %

CVS stock traded up $0.70 during midday trading on Friday, reaching $59.06. 14,343,538 shares of the company 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 business has a 50 day moving average of $59.56 and a 200-day moving average of $70.13. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The firm has a market capitalization of $74.14 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.56 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share 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 analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

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.