AdvisorNet Financial Inc Acquires 1,642 Shares of CVS Health Co. (NYSE:CVS)

AdvisorNet Financial Inc increased its holdings in CVS Health Co. (NYSE:CVS) by 30.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,005 shares of the pharmacy operator’s stock after purchasing an additional 1,642 shares during the quarter. AdvisorNet Financial Inc’s holdings in CVS Health were worth $559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Vanguard Group Inc. boosted its holdings in CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares during the last quarter. Capital World Investors raised its stake in CVS Health by 0.3% during the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after buying an additional 119,631 shares during the last quarter. Capital International Investors grew its holdings in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares during the period. Royal Bank of Canada grew its stake in CVS Health by 2.2% during the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after purchasing an additional 303,512 shares during the period. Finally, Norges Bank bought a new position in shares of CVS Health during the 4th quarter worth approximately $1,092,040,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVS shares. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial restated a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lowered their price objective 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. 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, CVS Health has an average rating of “Moderate Buy” and an average target price of $75.05.

CVS Health Stock Up 0.6 %

CVS Health stock opened at $61.74 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $77.50 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.59 and a beta of 0.53. The firm has a 50 day moving average price of $60.33 and a 200-day moving average price of $70.55. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its 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 during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Company 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.