Kovack Advisors Inc. Has $2.15 Million Stock Position in CVS Health Co. (NYSE:CVS)

Kovack Advisors Inc. grew its position in CVS Health Co. (NYSE:CVS) by 6.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,961 shares of the pharmacy operator’s stock after acquiring an additional 1,683 shares during the period. Kovack Advisors Inc.’s holdings in CVS Health were worth $2,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health in the 4th quarter valued at approximately $218,000. Canoe Financial LP raised its position in CVS Health by 95.1% during the 4th 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 last quarter. Meritage Portfolio Management lifted its holdings in CVS Health by 30.6% during the 4th quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock worth $5,237,000 after buying an additional 15,548 shares during the period. Steph & Co. increased its stake in shares of CVS Health by 192.0% in 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. Finally, Forum Financial Management LP raised its position in shares of CVS Health by 19.4% during the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Down 1.4 %

CVS stock traded down $0.82 during trading on Thursday, reaching $56.70. The stock had a trading volume of 5,371,350 shares, compared to its average volume of 10,197,653. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $71.18 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 0.55 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’s 50 day moving average is $59.12 and its two-hundred day moving average is $69.90.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 7.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVS shares. Wells Fargo & Company decreased their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Barclays cut their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Robert W. Baird started coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

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.