Ballentine Partners LLC Sells 2,835 Shares of CVS Health Co. (NYSE:CVS)

Ballentine Partners LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 25.6% during the first quarter, Holdings Channel.com reports. The firm owned 8,221 shares of the pharmacy operator’s stock after selling 2,835 shares during the quarter. Ballentine Partners LLC’s holdings in CVS Health were worth $656,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVS. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at about $1,092,040,000. Capital International Investors boosted its stake in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. Clearbridge Investments LLC raised its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares during the last quarter. Junto Capital Management LP bought a new stake in CVS Health during the fourth quarter valued at $111,209,000. Finally, International Assets Investment Management LLC raised its position in shares of CVS Health by 8,697.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price target 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. Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Barclays dropped their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Truist Financial restated a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.05.

Insider Buying and Selling

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

CVS Health Stock Performance

CVS stock traded up $0.29 during midday trading on Monday, hitting $61.66. The company’s stock had a trading volume of 1,460,163 shares, compared to its average volume of 12,047,433. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market cap of $77.41 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.58 and a beta of 0.53. The stock’s 50-day moving average price is $60.47 and its 200 day moving average price is $70.64. 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 (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. On average, equities analysts forecast 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.