Capital Asset Advisory Services LLC Sells 170 Shares of CVS Health Co. (NYSE:CVS)

Capital Asset Advisory Services LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,774 shares of the pharmacy operator’s stock after selling 170 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in CVS Health were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Norges Bank bought a new stake in shares of CVS Health during the fourth quarter worth $1,092,040,000. Capital International Investors increased its holdings in CVS Health by 47.4% in 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 purchasing an additional 10,837,801 shares during the last quarter. Clearbridge Investments LLC increased its holdings in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. Junto Capital Management LP bought a new stake in CVS Health in the fourth quarter valued at about $111,209,000. Finally, International Assets Investment Management LLC increased its holdings in 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 valued at $104,395,000 after purchasing an additional 1,307,100 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $59.09 on Friday. The stock has a 50 day moving average price of $59.56 and a 200 day moving average price of $70.19. 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 stock has a market capitalization of $74.18 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.56 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 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 company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last 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. Analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVS shares. Bank of America dropped their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Wells Fargo & Company decreased their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. Finally, Leerink Partnrs cut CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Eleven equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, 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 document filed with the SEC, which is available through this link. 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.