CVS Health Co. (NYSE:CVS) Shares Acquired by Farmers Trust Co.

Farmers Trust Co. grew its position in CVS Health Co. (NYSE:CVS) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,880 shares of the pharmacy operator’s stock after buying an additional 12,838 shares during the quarter. CVS Health accounts for 1.2% of Farmers Trust Co.’s holdings, making the stock its 26th largest holding. Farmers Trust Co.’s holdings in CVS Health were worth $5,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVS. Vanguard Group Inc. grew its stake 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 worth $9,293,299,000 after purchasing an additional 533,659 shares in the last quarter. Capital World Investors boosted its position in shares of CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after acquiring an additional 119,631 shares in the last quarter. Capital International Investors boosted its position in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares in the last quarter. Northern Trust Corp boosted its position in shares of CVS Health by 2.2% during the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after acquiring an additional 305,564 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of CVS Health by 2.2% during the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after acquiring an additional 303,512 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

NYSE:CVS traded down $0.44 during trading hours on Thursday, reaching $60.57. 1,010,647 shares of the company traded hands, compared to its average volume of 12,018,713. The firm’s 50-day moving average is $60.79 and its 200-day moving average is $70.78. The stock has a market cap of $76.04 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.58 and a beta of 0.53. 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 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the company posted $2.20 EPS. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now 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 this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. The Goldman Sachs Group lowered their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.