CVS Health Co. (NYSE:CVS) Shares Acquired by RBA Wealth Management LLC

RBA Wealth Management LLC boosted its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,221 shares of the pharmacy operator’s stock after purchasing an additional 905 shares during the period. CVS Health makes up 2.2% of RBA Wealth Management LLC’s portfolio, making the stock its 11th biggest position. RBA Wealth Management LLC’s holdings in CVS Health were worth $4,476,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Griffin Asset Management Inc. grew its holdings in shares of CVS Health by 0.5% in the 4th quarter. Griffin Asset Management Inc. now owns 21,187 shares of the pharmacy operator’s stock worth $2,186,000 after purchasing an additional 95 shares during the last quarter. Townsend Asset Management Corp NC ADV lifted its position in CVS Health by 0.6% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 17,344 shares of the pharmacy operator’s stock worth $1,789,000 after buying an additional 96 shares in the last quarter. Garrett Investment Advisors LLC lifted its position in CVS Health by 1.5% during the 4th quarter. Garrett Investment Advisors LLC now owns 6,831 shares of the pharmacy operator’s stock worth $705,000 after buying an additional 98 shares in the last quarter. First Bancorp Inc ME lifted its position in CVS Health by 2.8% during the 4th quarter. First Bancorp Inc ME now owns 3,590 shares of the pharmacy operator’s stock worth $371,000 after buying an additional 98 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its position in CVS Health by 2.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,084 shares of the pharmacy operator’s stock worth $525,000 after buying an additional 99 shares in the last quarter. 78.00% of the stock is owned by institutional investors.

In related news, EVP Prem S. Shah sold 16,954 shares of the firm’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $105.00, for a total value of $1,780,170.00. Following the completion of the transaction, the executive vice president now directly owns 43,453 shares of the company’s stock, valued at $4,562,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Prem S. Shah sold 5,346 shares of the firm’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $104.70, for a total transaction of $559,726.20. The disclosure for this sale can be found here. Insiders sold 77,659 shares of company stock valued at $7,882,993 over the last three months. 0.69% of the stock is owned by company insiders.

Several research analysts recently issued reports on the stock. StockNews.com began coverage on shares of CVS Health in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Sanford C. Bernstein downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and cut their target price for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of CVS Health from $110.00 to $113.00 in a research report on Thursday, May 5th. Loop Capital began coverage on shares of CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Tigress Financial upped their target price on shares of CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.05.

Shares of CVS traded up $0.69 during mid-day trading on Thursday, hitting $91.98. 84,103 shares of the company’s stock were exchanged, compared to its average volume of 4,455,777. The company has a market cap of $120.61 billion, a PE ratio of 15.16, a P/E/G ratio of 1.44 and a beta of 0.78. CVS Health Co. has a 52 week low of $79.33 and a 52 week high of $111.25. The company has a 50-day simple moving average of $97.08 and a 200 day simple moving average of $101.42. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.88 and a quick ratio of 0.62.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.08. The company had revenue of $76.83 billion during the quarter, compared to analysts’ expectations of $75.30 billion. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $2.04 EPS. On average, analysts anticipate that CVS Health Co. will post 8.34 earnings per share for the current year.

About CVS Health (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

See Also

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.