Handelsinvest Investeringsforvaltning Sells 2,469 Shares of CVS Health Co. (NYSE:CVS)

Handelsinvest Investeringsforvaltning reduced its position in CVS Health Co. (NYSE:CVS) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,664 shares of the pharmacy operator’s stock after selling 2,469 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in CVS Health were worth $1,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Plimoth Trust Co. LLC raised its holdings in shares of CVS Health by 2.1% in the first quarter. Plimoth Trust Co. LLC now owns 46,463 shares of the pharmacy operator’s stock valued at $3,706,000 after acquiring an additional 935 shares in the last quarter. Silverlake Wealth Management LLC raised its holdings in CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after purchasing an additional 173 shares in the last quarter. Nvest Financial LLC raised its holdings in CVS Health by 109.5% in the first quarter. Nvest Financial LLC now owns 14,188 shares of the pharmacy operator’s stock worth $1,132,000 after purchasing an additional 7,417 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in CVS Health in the first quarter worth about $252,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in CVS Health by 1.7% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 694,255 shares of the pharmacy operator’s stock worth $55,374,000 after purchasing an additional 11,402 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Down 0.3 %

CVS Health stock opened at $57.37 on Wednesday. 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 Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The stock’s 50 day simple moving average is $59.34 and its two-hundred day simple moving average is $70.02. The firm has a market cap of $72.02 billion, a PE ratio of 10.11, a P/E/G ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced its 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). The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. Analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent research reports. Barclays reduced 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 report on Thursday, May 2nd. Argus reduced their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. SVB Leerink restated a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Wells Fargo & Company cut their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group cut their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

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.