HBK Sorce Advisory LLC Decreases Stock Holdings in CVS Health Corporation (NYSE:CVS)

HBK Sorce Advisory LLC lessened its position in CVS Health Corporation (NYSE:CVS) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,781 shares of the pharmacy operator’s stock after selling 552 shares during the period. HBK Sorce Advisory LLC’s holdings in CVS Health were worth $1,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Hopwood Financial Services Inc. purchased a new stake in CVS Health in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 174 shares during the period. Providence First Trust Co bought a new stake in CVS Health in the fourth quarter valued at $42,000. Park Square Financial Group LLC bought a new position in CVS Health in the 4th quarter worth $43,000. Finally, PARK CIRCLE Co boosted its stake in shares of CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Guy P. Sansone purchased 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Trading Down 1.7%

Shares of NYSE:CVS opened at $66.44 on Thursday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The stock’s fifty day moving average price is $64.81 and its 200-day moving average price is $60.62. The company has a market cap of $84.05 billion, a P/E ratio of 15.86, a PEG ratio of 0.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (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 firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird raised their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Mizuho lifted their price target on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Barclays set a $79.00 price objective on CVS Health and gave the company an “overweight” rating in a research report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.75.

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.