Oak Thistle LLC Takes $203,000 Position in CVS Health Co. (NYSE:CVS)

Oak Thistle LLC purchased a new stake in CVS Health Co. (NYSE:CVS) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,540 shares of the pharmacy operator’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Atticus Wealth Management LLC lifted its stake in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. USA Financial Formulas lifted its stake in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter worth about $32,000. Creekmur Asset Management LLC bought a new position in CVS Health during the fourth quarter worth about $34,000. Finally, Steph & Co. lifted its stake 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 purchasing an additional 288 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of 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. Bank of America lowered their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 price target on shares of CVS Health in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $75.05.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Trading Down 1.6 %

Shares of NYSE:CVS opened at $58.14 on Tuesday. The company’s 50-day moving average price is $59.56 and its two-hundred day moving average price is $70.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market capitalization of $72.99 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly 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 return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the firm earned $2.20 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Co. will post 7.02 EPS 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.