CVS Health Co. (NYSE:CVS) Shares Bought by WFA Asset Management Corp

WFA Asset Management Corp increased its stake in CVS Health Co. (NYSE:CVS) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,950 shares of the pharmacy operator’s stock after purchasing an additional 415 shares during the quarter. WFA Asset Management Corp’s holdings in CVS Health were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVS. Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health during the fourth quarter worth approximately $218,000. Canoe Financial LP boosted its position in CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after purchasing an additional 859,134 shares during the period. Meritage Portfolio Management boosted its position in CVS Health by 30.6% during the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock worth $5,237,000 after purchasing an additional 15,548 shares during the period. Steph & Co. boosted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Finally, Forum Financial Management LP boosted its position in shares of CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 1.3 %

Shares of NYSE:CVS traded down $0.76 during trading on Wednesday, hitting $56.76. 3,285,237 shares of the company were exchanged, compared to its average volume of 11,962,166. The stock has a market cap of $71.25 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a fifty day moving average price of $59.12 and a two-hundred day moving average price of $69.90. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 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 for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Insider Activity at CVS Health

In related news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Robert W. Baird assumed coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. SVB Leerink reiterated a “market perform” rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group dropped 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

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.