Institute for Wealth Management LLC. Buys Shares of 3,355 CVS Health Corporation (NYSE:CVS)

Institute for Wealth Management LLC. bought a new position in shares of CVS Health Corporation (NYSE:CVS) during the 1st quarter, Holdings Channel.com reports. The firm bought 3,355 shares of the pharmacy operator’s stock, valued at approximately $227,000.

Several other institutional investors also recently bought and sold shares of CVS. LaFleur & Godfrey LLC boosted its stake in shares of CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock worth $217,000 after acquiring an additional 1,610 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in CVS Health by 62.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator’s stock worth $2,790,000 after purchasing an additional 23,849 shares during the period. Handelsbanken Fonder AB boosted its position in CVS Health by 3.6% during the fourth quarter. Handelsbanken Fonder AB now owns 603,225 shares of the pharmacy operator’s stock worth $27,079,000 after purchasing an additional 20,955 shares during the period. Cromwell Holdings LLC bought a new stake in CVS Health during the fourth quarter worth approximately $117,000. Finally, Compass Planning Associates Inc bought a new stake in shares of CVS Health during the 4th quarter worth $37,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 0.2%

Shares of CVS Health stock opened at $66.69 on Friday. The stock has a market capitalization of $84.36 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56. 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 50-day simple moving average of $64.92 and a 200 day simple moving average of $60.40. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CVS shares. Barclays set a $79.00 target price on shares of CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Cowen reiterated a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

About CVS Health

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.