Financial Management Professionals Inc. Boosts Holdings in CVS Health Co. (NYSE:CVS)

Financial Management Professionals Inc. increased its position in shares of CVS Health Co. (NYSE:CVS) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,948 shares of the pharmacy operator’s stock after buying an additional 508 shares during the quarter. Financial Management Professionals Inc.’s holdings in CVS Health were worth $315,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in CVS Health by 75.2% during the third quarter. Tower Research Capital LLC TRC now owns 50,634 shares of the pharmacy operator’s stock worth $3,535,000 after buying an additional 21,726 shares during the period. Bank of Nova Scotia boosted its position in shares of CVS Health by 120.3% during the 3rd quarter. Bank of Nova Scotia now owns 247,889 shares of the pharmacy operator’s stock worth $17,308,000 after purchasing an additional 135,375 shares during the period. Cape Cod Five Cents Savings Bank acquired a new stake in CVS Health in the 3rd quarter valued at approximately $223,000. Teza Capital Management LLC purchased a new stake in CVS Health in the third quarter valued at approximately $2,825,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of CVS Health by 5.4% during the third quarter. Rehmann Capital Advisory Group now owns 21,731 shares of the pharmacy operator’s stock worth $1,517,000 after buying an additional 1,116 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.2 %

CVS opened at $59.06 on Friday. The firm has a market cap of $74.14 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.56 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 business’s 50 day moving average is $59.56 and its two-hundred day moving average is $70.17. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released 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). The business had revenue of $88.44 billion during 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 firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. On average, research analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. 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 report on Thursday, May 2nd. Piper Sandler lifted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and reduced their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. JPMorgan Chase & Co. cut their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Buying and Selling

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.