FORVIS Wealth Advisors LLC Buys 2,037 Shares of CVS Health Co. (NYSE:CVS)

FORVIS Wealth Advisors LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 7.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,854 shares of the pharmacy operator’s stock after acquiring an additional 2,037 shares during the period. FORVIS Wealth Advisors LLC’s holdings in CVS Health were worth $2,301,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Atticus Wealth Management LLC raised its stake in shares of CVS Health by 149.0% in the 4th 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 in the last quarter. USA Financial Formulas grew its holdings in 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 buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health in the 4th quarter valued at approximately $34,000. Finally, Steph & Co. grew its holdings in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 1.0 %

NYSE:CVS traded down $0.58 on Friday, reaching $56.12. The company’s stock had a trading volume of 711,333 shares, compared to its average volume of 11,894,133. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. 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 cap of $70.45 billion, a PE ratio of 9.96, a PEG ratio of 0.54 and a beta of 0.52. The business’s 50-day moving average price is $58.68 and its two-hundred day moving average price is $69.71.

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 the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.20 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a report on Wednesday, June 12th. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Finally, Argus decreased their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Buying and Selling

In related news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by corporate 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.