Petra Financial Advisors Inc. Buys New Stake in CVS Health Corporation (NYSE:CVS)

Petra Financial Advisors Inc. bought a new stake in shares of CVS Health Corporation (NYSE:CVS) during the 1st quarter, Holdings Channel.com reports. The firm bought 4,348 shares of the pharmacy operator’s stock, valued at approximately $295,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LaFleur & Godfrey LLC increased its stake in CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock worth $217,000 after buying an additional 1,610 shares during the period. Atria Wealth Solutions Inc. increased its stake in CVS Health by 62.3% during the 4th 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 during the period. Handelsbanken Fonder AB increased its stake in CVS Health by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 603,225 shares of the pharmacy operator’s stock worth $27,079,000 after buying an additional 20,955 shares during the period. Cromwell Holdings LLC purchased a new stake in CVS Health during the 4th quarter worth $117,000. Finally, Compass Planning Associates Inc purchased a new stake in CVS Health during the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director now owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.22% of the company’s stock.

CVS Health Trading Down 0.2%

NYSE CVS opened at $66.69 on Friday. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a 50-day simple moving average of $64.92 and a 200-day simple moving average of $60.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a market capitalization of $84.36 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $93.07 billion. During the same period in the previous year, the business posted $1.31 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVS shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Royal Bank Of Canada boosted their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Barclays set a $79.00 target price on shares of CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Finally, Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $74.75.

About CVS Health

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.