Capital Asset Advisory Services LLC Sells 170 Shares of CVS Health Co. (NYSE:CVS)

Capital Asset Advisory Services LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,774 shares of the pharmacy operator’s stock after selling 170 shares during the period. Capital Asset Advisory Services LLC’s holdings in CVS Health were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Tower Research Capital LLC TRC boosted its stake in CVS Health by 75.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 50,634 shares of the pharmacy operator’s stock valued at $3,535,000 after purchasing an additional 21,726 shares during the last quarter. Bank of Nova Scotia boosted its stake in CVS Health by 120.3% during the 3rd quarter. Bank of Nova Scotia now owns 247,889 shares of the pharmacy operator’s stock valued at $17,308,000 after purchasing an additional 135,375 shares during the last quarter. Cape Cod Five Cents Savings Bank acquired a new position in CVS Health during the 3rd quarter valued at about $223,000. CWA Asset Management Group LLC boosted its stake in CVS Health by 10.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 14,418 shares of the pharmacy operator’s stock valued at $1,007,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in CVS Health during the 3rd quarter valued at about $2,825,000. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CVS. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company cut their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Mizuho cut their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group cut their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.3 %

Shares of CVS stock opened at $59.09 on Friday. The company’s fifty day simple moving average is $59.56 and its two-hundred day simple moving average is $70.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market capitalization of $74.18 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its 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). 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 the consensus estimate of $89.33 billion. During the same period in the previous year, the firm earned $2.20 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

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.