Prentice Wealth Management LLC Acquires 566 Shares of CVS Health Co. (NYSE:CVS)

Prentice Wealth Management LLC increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,964 shares of the pharmacy operator’s stock after purchasing an additional 566 shares during the period. Prentice Wealth Management LLC’s holdings in CVS Health were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Atticus Wealth Management LLC boosted its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas raised its holdings in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the fourth quarter worth $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. 80.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.5 %

Shares of NYSE CVS traded up $0.32 during mid-day trading on Wednesday, hitting $60.76. The company had a trading volume of 4,167,972 shares, compared to its average volume of 12,018,751. The company has a market capitalization of $76.28 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The business’s 50-day simple moving average is $60.16 and its 200 day simple moving average is $70.45.

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 company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 earnings per share. On average, analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. JPMorgan Chase & Co. reduced their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company cut their price objective on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.