CVS Health Corporation (NYSE:CVS) Stock Position Trimmed by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. cut its position in CVS Health Corporation (NYSE:CVS) by 9.4% during the 1st quarter, HoldingsChannel reports. The firm owned 13,873 shares of the pharmacy operator’s stock after selling 1,432 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in CVS Health were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Dodge & Cox lifted its position in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Capital World Investors grew its position in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC grew its position in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after buying an additional 689,867 shares in the last quarter. Capital International Investors grew its position in CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after buying an additional 6,475,271 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS stock opened at $66.69 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The firm has a market capitalization of $84.36 billion, a PE ratio of 15.92, a P/E/G ratio of 0.95 and a beta of 0.56. The firm has a 50-day moving average of $64.92 and a two-hundred day moving average of $60.45.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVS shares. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Mizuho increased their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

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.