tru Independence LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

tru Independence LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 0.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 72,784 shares of the pharmacy operator’s stock after selling 690 shares during the period. CVS Health makes up approximately 1.7% of tru Independence LLC’s holdings, making the stock its 21st largest holding. tru Independence LLC’s holdings in CVS Health were worth $5,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVS. Schonfeld Strategic Advisors LLC grew its position in CVS Health by 40.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 175,828 shares of the pharmacy operator’s stock valued at $12,276,000 after acquiring an additional 50,923 shares during the last quarter. Logan Capital Management Inc. grew its position in shares of CVS Health by 10.6% during the 3rd quarter. Logan Capital Management Inc. now owns 20,661 shares of the pharmacy operator’s stock worth $1,443,000 after buying an additional 1,974 shares in the last quarter. Insigneo Advisory Services LLC grew its position in shares of CVS Health by 17.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 8,993 shares of the pharmacy operator’s stock worth $628,000 after buying an additional 1,365 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of CVS Health by 150.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 20,552 shares of the pharmacy operator’s stock worth $1,435,000 after buying an additional 12,334 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in shares of CVS Health by 325.1% during the 3rd quarter. Alps Advisors Inc. now owns 21,174 shares of the pharmacy operator’s stock worth $1,478,000 after buying an additional 16,193 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $0.52 during trading on Tuesday, hitting $57.63. The stock had a trading volume of 2,170,480 shares, compared to its average volume of 11,995,189. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $59.56 and a two-hundred day simple moving average of $70.13.

CVS Health (NYSE:CVS) last announced 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 firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and dropped their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Argus dropped their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $75.05.

CVS Health 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.