Cornerstone Wealth Management LLC Sells 955 Shares of CVS Health Co. (NYSE:CVS)

Cornerstone Wealth Management LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,960 shares of the pharmacy operator’s stock after selling 955 shares during the period. Cornerstone Wealth Management LLC’s holdings in CVS Health were worth $1,273,000 as of its most recent SEC filing.

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

CVS Health Stock Down 1.4 %

Shares of CVS opened at $56.70 on Friday. The firm has a market capitalization of $71.18 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.54 and a beta of 0.52. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The business’s fifty day moving average price is $58.68 and its two-hundred day moving average price is $69.71.

CVS Health (NYSE:CVS) last released 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 analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing 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 topic of several recent research reports. Bank of America decreased their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays lowered their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a report on Wednesday, June 12th. Argus dropped their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.