Norden Group LLC Has $11.52 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Norden Group LLC raised its position in shares of CVS Health Co. (NYSE:CVS) by 2,240.6% in the 1st quarter, Holdings Channel reports. The firm owned 144,417 shares of the pharmacy operator’s stock after acquiring an additional 138,247 shares during the period. Norden Group LLC’s holdings in CVS Health were worth $11,519,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVS. Atticus Wealth Management LLC grew its position in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health during the 4th quarter worth approximately $34,000. Finally, Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $58.00 target price on shares of CVS Health in a research report on Wednesday, June 12th. Leerink Partnrs cut CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and dropped their price objective for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Finally, UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Stock Performance

Shares of CVS opened at $56.70 on Thursday. The stock has a 50-day moving average of $59.12 and a 200-day moving average of $69.90. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market cap of $71.18 billion, a PE ratio of 9.96, a P/E/G ratio of 0.55 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Co. will post 7.02 EPS 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.