Advisor Resource Council Invests $1.15 Million in CVS Health Corporation (NYSE:CVS)

Advisor Resource Council acquired a new position in shares of CVS Health Corporation (NYSE:CVS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,235 shares of the pharmacy operator’s stock, valued at approximately $1,150,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in CVS Health in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC boosted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares in the last quarter. MV Capital Management Inc. boosted its stake in CVS Health by 63.9% in the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock worth $50,000 after buying an additional 289 shares in the last quarter. Dunhill Financial LLC boosted its stake in CVS Health by 147.2% in the first quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator’s stock worth $51,000 after buying an additional 446 shares in the last quarter. Finally, Compass Planning Associates Inc purchased a new stake in CVS Health in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $66.69 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company has a market cap of $84.36 billion, a PE ratio of 15.92, a P/E/G ratio of 0.96 and a beta of 0.56. The business has a 50 day moving average of $64.92 and a 200 day moving average of $60.40. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Barclays set a $79.00 target price on CVS Health and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Mizuho boosted their price objective on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Robert W. Baird boosted their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director now owns 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

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.