Diversified Trust Co Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Diversified Trust Co reduced its stake in CVS Health Co. (NYSE:CVS) by 22.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,564 shares of the pharmacy operator’s stock after selling 2,459 shares during the period. Diversified Trust Co’s holdings in CVS Health were worth $683,000 as of its most recent SEC filing.

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

Insider Activity

In related news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $56.70 on Thursday. The company has a 50 day moving average of $59.12 and a two-hundred day moving average of $69.90. 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 twelve month low of $52.77 and a twelve month high of $83.25. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share 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 business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Bank of America lowered their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $58.00 target price 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 given a buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

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.