Chesley Taft & Associates LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Chesley Taft & Associates LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 78.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,462 shares of the pharmacy operator’s stock after selling 27,240 shares during the period. Chesley Taft & Associates LLC’s holdings in CVS Health were worth $595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverpoint Wealth Management Holdings LLC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $218,000. Canoe Financial LP lifted its stake in shares of CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after buying an additional 859,134 shares in the last quarter. Meritage Portfolio Management boosted its position in CVS Health by 30.6% during the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock worth $5,237,000 after acquiring an additional 15,548 shares during the last quarter. Ancora Advisors LLC raised its holdings in CVS Health by 17.5% in the 3rd quarter. Ancora Advisors LLC now owns 457,267 shares of the pharmacy operator’s stock valued at $31,926,000 after acquiring an additional 68,005 shares during the last quarter. Finally, Steph & Co. grew its position in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

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

CVS Health Stock Performance

Shares of CVS opened at $59.52 on Friday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The company’s fifty day moving average is $60.00 and its two-hundred day moving average is $70.38. The stock has a market capitalization of $74.72 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.58 and a beta of 0.53.

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

Analyst Ratings Changes

CVS has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Piper Sandler lifted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Mizuho reduced their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird assumed coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Finally, UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

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.