Rare Wolf Capital LLC bought a new stake in shares of CVS Health Corporation (NYSE:CVS – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,777 shares of the pharmacy operator’s stock, valued at approximately $776,000.
A number of other hedge funds also recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in shares of CVS Health by 45.4% in the 4th quarter. Corient Private Wealth LLC now owns 544,487 shares of the pharmacy operator’s stock valued at $43,210,000 after buying an additional 170,023 shares in the last quarter. Strive Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $197,000. Mercer Global Advisors Inc. ADV increased its stake in CVS Health by 12.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 141,136 shares of the pharmacy operator’s stock valued at $11,201,000 after acquiring an additional 15,396 shares during the last quarter. Summit Global Investments bought a new position in CVS Health in the fourth quarter valued at approximately $447,000. Finally, Raymond James Financial Inc. raised its position in CVS Health by 11.1% during the fourth quarter. Raymond James Financial Inc. now owns 3,445,189 shares of the pharmacy operator’s stock valued at $273,491,000 after purchasing an additional 344,071 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.
CVS Health Trading Down 0.9%
NYSE CVS opened at $98.26 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78. CVS Health Corporation has a twelve month low of $58.50 and a twelve month high of $102.77. The company has a market cap of $125.38 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 0.97 and a beta of 0.62. The business’s fifty day moving average is $88.92 and its 200 day moving average is $81.37.
Insider Activity
In related news, Director Larry Robbins sold 370,462 shares of CVS Health stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $93.45, for a total transaction of $34,619,673.90. Following the sale, the director directly owned 4,824,799 shares in the company, valued at $450,877,466.55. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the sale, the executive vice president directly owned 10,133 shares in the company, valued at $907,714.14. The trade was a 87.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,441,551 shares of company stock worth $323,703,977. Company insiders own 0.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CVS. Wall Street Zen downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Robert W. Baird upped their price objective on CVS Health from $92.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. DA Davidson raised their price objective on CVS Health from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of CVS Health in a research report on Friday, May 8th. Finally, Sanford C. Bernstein increased their target price on shares of CVS Health from $94.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $100.68.
Get Our Latest Analysis on CVS
About CVS Health
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
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