SteelPeak Wealth LLC Invests $1.48 Million in CVS Health Co. (NYSE:CVS)

SteelPeak Wealth LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,495 shares of the pharmacy operator’s stock, valued at approximately $1,475,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in CVS Health in the 4th quarter worth approximately $1,092,040,000. Capital International Investors lifted its stake in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Clearbridge Investments LLC increased its stake in CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Junto Capital Management LP bought a new stake in CVS Health during the fourth quarter valued at about $111,209,000. Finally, International Assets Investment Management LLC boosted its stake in shares of CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

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

CVS Health Price Performance

CVS opened at $59.06 on Monday. 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 business has a fifty day moving average of $59.56 and a 200 day moving average of $70.13. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The stock has a market cap of $74.14 billion, a P/E ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.52.

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 company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 7.02 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. Finally, Barclays decreased their target price on 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. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $75.05.

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.