13,486 Shares in CVS Health Co. (NYSE:CVS) Purchased by Founders Financial Securities LLC

Founders Financial Securities LLC bought a new position in CVS Health Co. (NYSE:CVS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,486 shares of the pharmacy operator’s stock, valued at approximately $1,076,000.

A number of other hedge funds also recently made changes to their positions in CVS. Riverpoint Wealth Management Holdings LLC purchased a new stake in CVS Health during the fourth quarter valued at approximately $218,000. Canoe Financial LP raised 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 valued at $139,177,000 after purchasing an additional 859,134 shares during the period. Meritage Portfolio Management raised 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 valued at $5,237,000 after purchasing an additional 15,548 shares during the period. Steph & Co. raised its position 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 purchasing an additional 288 shares during the period. Finally, Forum Financial Management LP raised its position in CVS Health by 19.4% during the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 2,901 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was purchased 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 approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Stock Up 1.2 %

NYSE CVS traded up $0.70 during midday trading on Friday, hitting $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 current ratio of 0.81 and a quick ratio of 0.61. The company has a market cap of $74.14 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.56 and a beta of 0.53. The company’s 50-day simple moving average is $59.56 and its 200-day simple moving average is $70.17. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its 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 company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Robert W. Baird began coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Barclays cut their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.