Avity Investment Management Inc. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Avity Investment Management Inc. cut its holdings in CVS Health Co. (NYSE:CVSFree Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,703 shares of the pharmacy operator’s stock after selling 1,508 shares during the period. CVS Health accounts for 1.8% of Avity Investment Management Inc.’s holdings, making the stock its 25th biggest holding. Avity Investment Management Inc.’s holdings in CVS Health were worth $20,427,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVS. Live Oak Investment Partners purchased a new position in CVS Health in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its holdings in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of CVS Health during the 2nd quarter worth approximately $37,000. True Wealth Design LLC purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $48,000. Finally, Godsey & Gibb Inc. raised its holdings in shares of CVS Health by 153.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 758 shares of the pharmacy operator’s stock worth $53,000 after acquiring an additional 459 shares in the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.2 %

CVS Health stock traded up $0.92 during mid-day trading on Wednesday, hitting $78.98. The company’s stock had a trading volume of 6,409,561 shares, compared to its average volume of 11,488,443. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a 50 day moving average of $75.50 and a 200-day moving average of $72.96. The stock has a market cap of $99.39 billion, a PE ratio of 12.23, a P/E/G ratio of 1.03 and a beta of 0.51.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the prior year, the company earned $1.99 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that CVS Health Co. will post 8.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVS shares. SVB Leerink started coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. TD Cowen cut their target price on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research report on Monday, December 11th. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Royal Bank of Canada cut their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $90.21.

Check Out Our Latest Stock Analysis on CVS Health

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

CVS Health Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVSFree Report).

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.