CVS Health Co. (NYSE:CVS) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,960 shares of the pharmacy operator’s stock after selling 955 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in CVS Health were worth $1,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC raised its holdings 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 acquiring an additional 219 shares during the period. USA Financial Formulas raised 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. acquired a new position in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $34,000. Finally, Steph & Co. lifted its holdings in CVS Health by 192.0% in 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. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.70 on Friday. The stock’s 50-day simple moving average is $58.68 and its 200-day simple moving average is $69.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm has a market capitalization of $71.18 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.54 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued 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 company had revenue of $88.44 billion for 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%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 7.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler upped their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Argus dropped their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Leerink Partnrs cut CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company dropped their price objective on 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. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Buying and Selling at CVS Health

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were acquired 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 owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.