Allspring Global Investments Holdings LLC Sells 130,916 Shares of CVS Health Co. (NYSE:CVS)

Allspring Global Investments Holdings LLC decreased its stake in CVS Health Co. (NYSE:CVS) by 11.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,997 shares of the pharmacy operator’s stock after selling 130,916 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of CVS Health worth $80,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Atticus Wealth Management LLC raised its stake in shares of CVS Health by 149.0% during 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 grew its position 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 valued at $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health during the 4th quarter worth about $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. increased its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVS shares. Argus cut their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company reduced their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Mizuho decreased their price target 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. Finally, The Goldman Sachs Group cut their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Price Performance

Shares of NYSE:CVS traded down $0.41 during midday trading on Tuesday, hitting $57.74. The stock had a trading volume of 986,555 shares, compared to its average volume of 11,985,793. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a market capitalization of $72.49 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. 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’s 50-day moving average price is $59.56 and its 200-day moving average price is $70.13.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.20 earnings per share. As a group, equities research analysts predict that CVS Health Co. will post 7.02 EPS for the current fiscal 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.