CVS Health Corporation (NYSE:CVS) Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 5.5% in the first quarter, HoldingsChannel.com reports. The fund owned 195,354 shares of the pharmacy operator’s stock after selling 11,452 shares during the period. Osborne Partners Capital Management LLC’s holdings in CVS Health were worth $13,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LaFleur & Godfrey LLC raised its stake in CVS Health by 49.9% in the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock valued at $217,000 after purchasing an additional 1,610 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of CVS Health by 3.2% during the fourth quarter. Principal Securities Inc. now owns 27,881 shares of the pharmacy operator’s stock worth $1,252,000 after buying an additional 859 shares in the last quarter. Allworth Financial LP raised its position in shares of CVS Health by 23.7% in the fourth quarter. Allworth Financial LP now owns 21,795 shares of the pharmacy operator’s stock valued at $978,000 after buying an additional 4,182 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of CVS Health by 62.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator’s stock worth $2,790,000 after buying an additional 23,849 shares in the last quarter. Finally, Kestra Investment Management LLC boosted its position in CVS Health by 25.5% during the fourth quarter. Kestra Investment Management LLC now owns 6,806 shares of the pharmacy operator’s stock worth $306,000 after acquiring an additional 1,384 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.3%

Shares of CVS opened at $66.91 on Friday. The company’s 50-day moving average price is $64.98 and its 200 day moving average price is $60.35. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm has a market cap of $84.64 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same period last year, the business earned $1.31 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVS shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Robert W. Baird upped their price target on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Royal Bank Of Canada lifted their price objective on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Two investment 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 company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is owned by insiders.

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.