18,495 Shares in CVS Health Co. (NYSE:CVS) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new stake in CVS Health Co. (NYSE:CVS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,495 shares of the pharmacy operator’s stock, valued at approximately $1,475,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after acquiring an additional 533,659 shares during the last quarter. Capital World Investors increased its holdings in CVS Health by 0.3% in the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock valued at $3,201,410,000 after purchasing an additional 119,631 shares during the period. Capital International Investors lifted its holdings in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares during the period. Royal Bank of Canada grew its position in shares of CVS Health by 2.2% in the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock valued at $987,041,000 after buying an additional 303,512 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at about $1,092,040,000. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

CVS opened at $59.06 on Monday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market capitalization of $74.14 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.56 and a beta of 0.52. The firm’s fifty day moving average price is $59.56 and its two-hundred day moving average price is $70.13.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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 return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Argus dropped their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

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.