Silverlake Wealth Management LLC Invests $858,000 in CVS Health Co. (NYSE:CVS)

CVS Health logoSilverlake Wealth Management LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS – Get Rating) in the fourth quarter, Holdings reports. The fund purchased 9,207 shares of the pharmacy operator’s stock, valued at approximately $858,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Godsey & Gibb Inc. purchased a new position in shares of CVS Health during the fourth quarter worth $28,000. VitalStone Financial LLC acquired a new position in CVS Health in the 4th quarter valued at about $28,000. Castleview Partners LLC lifted its position in shares of CVS Health by 227.8% during the fourth quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 221 shares in the last quarter. Mendota Financial Group LLC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $31,000. Finally, EWG Elevate Inc. acquired a new stake in CVS Health during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 77.29% of the company’s stock.

Insider Activity at CVS Health

In other CVS Health news, CEO Karen S. Lynch bought 14,000 shares of CVS Health stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average price of $69.75 per share, with a total value of $976,500.00. Following the completion of the acquisition, the chief executive officer now owns 431,392 shares in the company, valued at $30,089,592. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. 0.25% of the stock is currently owned by insiders.

CVS Health Stock Performance

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NYSE:CVS opened at $66.65 on Thursday. The firm’s fifty day moving average price is $71.37 and its 200 day moving average price is $81.97. CVS Health Co. has a 1-year low of $66.34 and a 1-year high of $107.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.92 and a quick ratio of 0.67. The firm has a market cap of $85.45 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.63.

CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The pharmacy operator reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. CVS Health had a net margin of 1.20% and a return on equity of 15.75%. The firm had revenue of $85.28 billion for the quarter, compared to analyst estimates of $80.67 billion. During the same period last year, the firm posted $2.22 EPS. CVS Health’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that CVS Health Co. will post 8.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVS. Truist Financial cut their price objective on CVS Health from $115.00 to $109.00 in a research report on Thursday, May 4th. Piper Sandler assumed coverage on CVS Health in a research report on Thursday, May 25th. They set an “overweight” rating and a $85.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of CVS Health in a report on Thursday, April 20th. They issued an “overweight” rating and a $87.00 target price on the stock. Sanford C. Bernstein decreased their price objective on shares of CVS Health from $107.00 to $93.00 in a research report on Tuesday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on CVS Health from $125.00 to $114.00 in a research note on Tuesday, May 30th. Two equity research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.20.

CVS Health Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.

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

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