Sheets Smith Wealth Management Reduces Stake in CVS Health Corporation (NYSE:CVS)

Sheets Smith Wealth Management trimmed its position in shares of CVS Health Corporation (NYSE:CVS) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,423 shares of the pharmacy operator’s stock after selling 2,186 shares during the quarter. Sheets Smith Wealth Management’s holdings in CVS Health were worth $1,180,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. LaFleur & Godfrey LLC increased 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 purchasing an additional 1,610 shares in the last quarter. TCW Group Inc. increased its position in CVS Health by 2.5% during the fourth quarter. TCW Group Inc. now owns 17,601 shares of the pharmacy operator’s stock worth $790,000 after buying an additional 435 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of CVS Health by 10.1% in the fourth quarter. Wealthspire Advisors LLC now owns 15,962 shares of the pharmacy operator’s stock worth $717,000 after acquiring an additional 1,468 shares during the last quarter. Howard Capital Management Inc. lifted its position in shares of CVS Health by 13.6% in the fourth quarter. Howard Capital Management Inc. now owns 13,846 shares of the pharmacy operator’s stock valued at $622,000 after acquiring an additional 1,653 shares in the last quarter. Finally, B&D White Capital Company LLC purchased a new stake in CVS Health during the 4th quarter worth about $417,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost 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 in the company, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $66.93 on Tuesday. 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 firm has a market capitalization of $84.67 billion, a P/E ratio of 15.97, a PEG ratio of 0.95 and a beta of 0.56. The firm has a fifty day moving average of $64.88 and a 200-day moving average of $60.53. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51.

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

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Mizuho lifted their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Barclays set a $79.00 price objective on CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

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.