Global Assets Advisory LLC Invests $10.65 Million in CVS Health Co. (NYSE:CVS)

Global Assets Advisory LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the first quarter, Holdings Channel reports. The firm bought 133,546 shares of the pharmacy operator’s stock, valued at approximately $10,652,000.

Several other institutional investors have also recently bought and sold shares of CVS. Atticus Wealth Management LLC grew 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 worth $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas grew its position in CVS Health by 573.2% in the 4th 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 last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. grew its position 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 buying an additional 288 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CVS. Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Barclays reduced their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. 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 report on Wednesday, May 1st. Finally, Bank of America cut their target price 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. Eleven 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, CVS Health 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 CVS Health stock in a transaction on Thursday, May 2nd. The shares were purchased 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 in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

CVS Health Trading Up 0.6 %

NYSE:CVS traded up $0.36 on Monday, hitting $61.73. 8,485,416 shares of the stock were exchanged, compared to its average volume of 12,112,113. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $77.49 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.58 and a beta of 0.53. The company’s 50-day moving average price is $60.47 and its 200 day moving average price is $70.64.

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

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.