NBC Securities Inc. Has $1.35 Million Stock Position in CVS Health Co. (NYSE:CVS)

NBC Securities Inc. cut its holdings in CVS Health Co. (NYSE:CVS) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,917 shares of the pharmacy operator’s stock after selling 219 shares during the quarter. NBC Securities Inc.’s holdings in CVS Health were worth $1,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Somerset Trust Co acquired a new stake in CVS Health in the first quarter worth $215,000. Davis Capital Management grew its stake in shares of CVS Health by 6.5% in the 1st quarter. Davis Capital Management now owns 19,178 shares of the pharmacy operator’s stock valued at $1,526,000 after buying an additional 1,177 shares during the period. Moody National Bank Trust Division increased its position in CVS Health by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock valued at $1,776,000 after buying an additional 150 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in CVS Health by 6.8% in the first quarter. Trust Co. of Toledo NA OH now owns 38,092 shares of the pharmacy operator’s stock worth $3,038,000 after acquiring an additional 2,436 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in CVS Health in the fourth quarter valued at approximately $36,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVS shares. Mizuho cut their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Wells Fargo & Company cut their price target 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, Bank of America lowered their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

CVS Health stock opened at $61.01 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The business’s 50 day simple moving average is $60.79 and its 200 day simple moving average is $70.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $76.59 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. Sell-side analysts forecast that CVS Health Co. will post 7.02 EPS for the current year.

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.