State of Alaska Department of Revenue Lowers Position in CVS Health Co. (NYSE:CVS)

State of Alaska Department of Revenue cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,164 shares of the pharmacy operator’s stock after selling 31,226 shares during the quarter. State of Alaska Department of Revenue’s holdings in CVS Health were worth $14,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. WFA Asset Management Corp grew its holdings in shares of CVS Health by 27.0% during the 1st quarter. WFA Asset Management Corp now owns 1,950 shares of the pharmacy operator’s stock worth $156,000 after purchasing an additional 415 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of CVS Health by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,734,320 shares of the pharmacy operator’s stock worth $297,849,000 after purchasing an additional 18,790 shares during the period. Plimoth Trust Co. LLC lifted its stake in CVS Health by 2.1% during the 1st quarter. Plimoth Trust Co. LLC now owns 46,463 shares of the pharmacy operator’s stock worth $3,706,000 after acquiring an additional 935 shares in the last quarter. Silverlake Wealth Management LLC lifted its stake in CVS Health by 1.6% during the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after acquiring an additional 173 shares in the last quarter. Finally, Nvest Financial LLC lifted its stake in CVS Health by 109.5% during the 1st quarter. Nvest Financial LLC now owns 14,188 shares of the pharmacy operator’s stock worth $1,132,000 after acquiring an additional 7,417 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $58.00 target price on shares of CVS Health in a research note on Wednesday, June 12th. The Goldman Sachs Group decreased their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Finally, Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Trading Down 1.4 %

NYSE:CVS opened at $56.70 on Thursday. The stock’s 50 day moving average price is $59.12 and its 200 day moving average price is $69.90. The company has a market capitalization of $71.18 billion, a PE ratio of 9.96, a P/E/G ratio of 0.55 and a beta of 0.52. 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 Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate 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.