Oak Asset Management LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Oak Asset Management LLC boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,028 shares of the pharmacy operator’s stock after acquiring an additional 2,885 shares during the period. CVS Health comprises about 2.5% of Oak Asset Management LLC’s portfolio, making the stock its 10th largest position. Oak Asset Management LLC’s holdings in CVS Health were worth $6,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. boosted its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Activity at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now 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 Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVS has been the subject of several research analyst reports. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Bank of America decreased their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Finally, Piper Sandler increased their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Price Performance

Shares of NYSE CVS opened at $59.06 on Monday. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.52. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm’s 50 day simple moving average is $59.56 and its 200-day simple moving average is $70.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. Analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

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.