CVS Health Co. (NYSE:CVS) Stake Increased by Grimes & Company Inc.

Grimes & Company Inc. grew its holdings in CVS Health Co. (NYSE:CVS) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,343 shares of the pharmacy operator’s stock after purchasing an additional 8,514 shares during the period. Grimes & Company Inc.’s holdings in CVS Health were worth $21,084,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Riverpoint Wealth Management Holdings LLC purchased a new stake in shares of CVS Health during the fourth quarter worth $218,000. Canoe Financial LP raised its holdings 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 valued at $139,177,000 after buying an additional 859,134 shares in the last quarter. Meritage Portfolio Management raised its holdings in CVS Health by 30.6% during the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after buying an additional 15,548 shares in the last quarter. Ancora Advisors LLC raised its holdings in CVS Health by 17.5% during the third quarter. Ancora Advisors LLC now owns 457,267 shares of the pharmacy operator’s stock valued at $31,926,000 after buying an additional 68,005 shares in the last quarter. Finally, Steph & Co. raised its holdings in 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 buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Bank of America lowered their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Finally, Piper Sandler raised their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Trading Up 1.2 %

CVS traded up $0.70 during trading on Friday, reaching $59.06. 14,343,538 shares of the company’s stock were exchanged, compared to its average volume of 11,322,786. The company’s fifty day moving average price is $59.56 and its 200-day moving average price is $70.17. 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 Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market capitalization of $74.14 billion, a PE ratio of 10.38, a P/E/G ratio of 0.56 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced 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). The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. As a group, equities analysts forecast that CVS Health Co. will post 7.02 EPS for the current 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.