Somerset Trust Co Invests $215,000 in CVS Health Co. (NYSE:CVS)

Somerset Trust Co purchased a new position in CVS Health Co. (NYSE:CVS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,697 shares of the pharmacy operator’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently made changes to their positions in CVS. Atticus Wealth Management LLC boosted its position 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 worth $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas lifted its position in 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 acquiring an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at approximately $34,000. Finally, Kapitalo Investimentos Ltda bought a new position in CVS Health in the 4th quarter valued at approximately $36,000. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling at CVS Health

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVS. Mizuho lowered their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group lowered their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and decreased their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Barclays decreased their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, Bank of America decreased their target price on shares of 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 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 an average rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Trading Down 0.1 %

Shares of CVS stock opened at $61.01 on Thursday. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm has a market capitalization of $76.59 billion, a PE ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.53. The stock has a fifty day simple moving average of $60.79 and a two-hundred day simple moving average of $70.78.

CVS Health (NYSE:CVS) last issued 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 business had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 7.02 EPS for the current fiscal 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.