Symphony Financial Ltd. Co. Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Symphony Financial Ltd. Co. lessened its holdings in CVS Health Co. (NYSE:CVS) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,275 shares of the pharmacy operator’s stock after selling 554 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in CVS Health were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CVS. Atticus Wealth Management LLC boosted its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $34,000. Finally, Steph & Co. boosted its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase 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 Stock Performance

Shares of NYSE:CVS traded up $0.70 during trading hours on Friday, hitting $59.06. The stock had a trading volume of 14,343,538 shares, compared to its average volume of 11,322,786. The stock’s fifty day simple moving average is $59.56 and its 200 day simple moving average is $70.17. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a market capitalization of $74.14 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.56 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Argus cut their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

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.