Avidian Wealth Enterprises LLC Takes Position in CVS Health Corporation (NYSE:CVS)

by · The Markets Daily

Avidian Wealth Enterprises LLC purchased a new stake in shares of CVS Health Corporation (NYSE:CVS – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,033 shares of the pharmacy operator’s stock, valued at approximately $205,000.

Several other large investors have also recently modified their holdings of CVS. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after buying an additional 166 shares during the last quarter. Aljian Capital Management LLC raised its stake in CVS Health by 3.2% during the first quarter. Aljian Capital Management LLC now owns 13,777 shares of the pharmacy operator’s stock worth $933,000 after buying an additional 428 shares during the last quarter. WealthBridge Capital Management LLC bought a new position in CVS Health during the first quarter worth $238,000. Sumitomo Mitsui Trust Group Inc. raised its stake in CVS Health by 1.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,495,427 shares of the pharmacy operator’s stock worth $236,815,000 after buying an additional 40,734 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in CVS Health by 131.7% during the first quarter. Confluence Wealth Services Inc. now owns 9,541 shares of the pharmacy operator’s stock worth $626,000 after buying an additional 5,423 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Barclays set a $79.00 target price on shares of CVS Health and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Robert W. Baird lifted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group lifted their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Get Our Latest Stock Analysis on CVS

CVS Health Stock Up 0.8%

Shares of NYSE CVS opened at $69.56 on Wednesday. The stock has a market capitalization of $87.99 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.99 and a beta of 0.57. The company has a 50-day moving average price of $65.01 and a 200-day moving average price of $61.13. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

About CVS Health

(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.

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