Nvest Financial LLC Purchases 7,417 Shares of CVS Health Co. (NYSE:CVS)

Nvest Financial LLC lifted its position in CVS Health Co. (NYSE:CVS) by 109.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,188 shares of the pharmacy operator’s stock after purchasing an additional 7,417 shares during the period. Nvest Financial LLC’s holdings in CVS Health were worth $1,132,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CVS. Atticus Wealth Management LLC boosted its holdings in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas boosted its holdings in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the fourth quarter valued at $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health during the fourth quarter valued at $34,000. Finally, Steph & Co. lifted 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 buying an additional 288 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CVS. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and lowered their price objective for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. Robert W. Baird started coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler lifted their price target on CVS Health from $93.00 to $94.00 and gave the stock 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.63 during trading hours on Tuesday, reaching $57.52. 6,871,861 shares of the stock traded hands, compared to its average volume of 12,034,619. The company has a 50 day moving average price of $59.34 and a 200 day moving average price of $70.02. The firm has a market capitalization of $72.21 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.56 and a beta of 0.52. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm 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 company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, equities research analysts expect 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 acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.

About CVS Health

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.