Norway Savings Bank Trims Stock Position in CVS Health Co. (NYSE:CVS)

Norway Savings Bank cut its stake in CVS Health Co. (NYSE:CVS) by 9.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,217 shares of the pharmacy operator’s stock after selling 2,953 shares during the period. Norway Savings Bank’s holdings in CVS Health were worth $2,330,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVS. Atticus Wealth Management LLC increased its stake in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas grew its stake in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the fourth quarter valued at $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health in the fourth quarter worth $34,000. Finally, Steph & Co. grew its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of analyst reports. Argus dropped their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Barclays lowered their price objective on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $58.00 price objective on shares of CVS Health in a report on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Price Performance

Shares of CVS Health stock opened at $59.09 on Friday. 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. The stock’s 50-day simple moving average is $59.56 and its 200-day simple moving average is $70.19. The company has a market capitalization of $74.18 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate 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 EPS. As a group, analysts expect that CVS Health Co. will post 7.02 earnings per share 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.