Simmons Bank Sells 754 Shares of CVS Health Corporation (NYSE:CVS)

Simmons Bank reduced its holdings in CVS Health Corporation (NYSE:CVS) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,606 shares of the pharmacy operator’s stock after selling 754 shares during the period. Simmons Bank’s holdings in CVS Health were worth $312,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Dodge & Cox lifted its holdings in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the period. Capital World Investors lifted its holdings in CVS Health by 26.6% in the fourth 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 during the period. Geode Capital Management LLC lifted its holdings in CVS Health by 2.6% in the fourth 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 during the period. Capital International Investors lifted its holdings in CVS Health by 4.8% in the fourth 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 during the period. Finally, Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% in the fourth 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 during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVS shares. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Robert W. Baird increased their target price 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. Finally, Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.06.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Up 1.2%

Shares of CVS stock opened at $67.38 on Friday. The firm has a fifty day moving average of $65.11 and a 200-day moving average of $61.58. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a market capitalization of $85.23 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.97 and a beta of 0.57.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

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.