Brookstone Capital Management Purchases 2,054 Shares of CVS Health Co. (NYSE:CVS)

Brookstone Capital Management boosted its position in CVS Health Co. (NYSE:CVS) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,157 shares of the pharmacy operator’s stock after acquiring an additional 2,054 shares during the period. Brookstone Capital Management’s holdings in CVS Health were worth $5,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after buying an additional 533,659 shares in the last quarter. Capital World Investors grew its holdings in CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock valued at $3,201,410,000 after buying an additional 119,631 shares in the last quarter. Capital International Investors increased its position in shares of CVS Health by 47.4% during the fourth 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 during the period. Royal Bank of Canada boosted its position in shares of CVS Health by 2.2% in the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock valued at $987,041,000 after acquiring an additional 303,512 shares during the period. Finally, Norges Bank purchased a new position in CVS Health during the fourth quarter valued at approximately $1,092,040,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVS shares. Wells Fargo & Company cut 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. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Robert W. Baird started coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Stock Performance

CVS Health stock opened at $60.63 on Thursday. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a market cap of $76.11 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.58 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $60.16 and a 200-day moving average of $70.45.

CVS Health (NYSE:CVS) last posted its earnings results 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). 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 analysts’ expectations of $89.33 billion. During the same period last year, the firm posted $2.20 earnings per share. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought 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 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 is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

About CVS Health

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.