Trust Co. of Vermont Sells 19,847 Shares of CVS Health Corporation (NYSE:CVS)

Trust Co. of Vermont cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 31.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,645 shares of the pharmacy operator’s stock after selling 19,847 shares during the quarter. Trust Co. of Vermont’s holdings in CVS Health were worth $2,957,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. Norges Bank purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $839,574,000. Capital World Investors boosted its holdings in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after buying an additional 11,018,438 shares during the period. Dodge & Cox increased its holdings in shares of CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC raised its stake in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $68.13 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The stock has a market capitalization of $86.18 billion, a PE ratio of 16.26, a PEG ratio of 0.95 and a beta of 0.56. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a 50 day moving average price of $64.83 and a 200-day moving average price of $60.70.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The business 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. Equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Truist Financial increased their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Finally, Mizuho lifted their price target 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. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.