Fisher Asset Management LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Fisher Asset Management LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 67,860 shares of the pharmacy operator’s stock after selling 1,372 shares during the period. Fisher Asset Management LLC’s holdings in CVS Health were worth $5,358,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CVS. Personal CFO Solutions LLC lifted its position in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after acquiring an additional 491 shares during the last quarter. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health during the 4th quarter valued at approximately $218,000. Canoe Financial LP increased its stake in CVS Health by 95.1% during the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares in the last quarter. Meritage Portfolio Management increased its stake in CVS Health by 30.6% during the 4th quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after purchasing an additional 15,548 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in CVS Health by 17.5% during the 3rd quarter. Ancora Advisors LLC now owns 457,267 shares of the pharmacy operator’s stock valued at $31,926,000 after purchasing an additional 68,005 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS opened at $61.01 on Friday. 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 company has a market cap of $76.59 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.53. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The firm’s fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $70.71.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. Equities analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVS shares. The Goldman Sachs Group cut their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $99.00 to $59.00 in a research note on Tuesday, May 7th. SVB Leerink reiterated a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Truist Financial reiterated a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company cut their price objective on shares of 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. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Transactions at CVS Health

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

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.