Parkside Investments LLC Increases Stake in CVS Health Co. (NYSE:CVS)

Parkside Investments LLC increased its position in shares of CVS Health Co. (NYSE:CVS) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,905 shares of the pharmacy operator’s stock after buying an additional 2,393 shares during the period. CVS Health comprises approximately 1.7% of Parkside Investments LLC’s holdings, making the stock its 17th largest holding. Parkside Investments LLC’s holdings in CVS Health were worth $10,680,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in CVS Health during the 4th quarter worth approximately $1,092,040,000. Capital International Investors lifted its stake in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Clearbridge Investments LLC lifted its stake in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the period. Junto Capital Management LP acquired a new position in shares of CVS Health in the 4th quarter valued at $111,209,000. Finally, International Assets Investment Management LLC raised its position in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Argus reduced their price objective on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Mizuho reduced their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group reduced their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays dropped their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Stock Performance

Shares of CVS traded down $0.12 during mid-day trading on Wednesday, reaching $60.32. 3,048,302 shares of the company’s stock were exchanged, compared to its average volume of 12,007,693. The business’s fifty day simple moving average is $60.16 and its 200-day simple moving average is $70.45. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The stock has a market capitalization of $75.72 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

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.