Oak Asset Management LLC Purchases 2,885 Shares of CVS Health Co. (NYSE:CVS)

Oak Asset Management LLC raised its position in CVS Health Co. (NYSE:CVS) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 84,028 shares of the pharmacy operator’s stock after purchasing an additional 2,885 shares during the period. CVS Health comprises approximately 2.5% of Oak Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Oak Asset Management LLC’s holdings in CVS Health were worth $6,702,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Atticus Wealth Management LLC boosted 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 acquiring an additional 219 shares during the last quarter. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at $34,000. Finally, Steph & Co. boosted its stake in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVS. Barclays decreased their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Bank of America decreased their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $59.06 on Monday. The company has a market cap of $74.14 billion, a P/E ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The business’s 50-day simple moving average is $59.56 and its 200 day simple moving average is $70.13.

CVS Health (NYSE:CVS) last announced 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). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on 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 purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by insiders.

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.