Meristem Family Wealth LLC Sells 137 Shares of CVS Health Co. (NYSE:CVS)

Meristem Family Wealth LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,803 shares of the pharmacy operator’s stock after selling 137 shares during the quarter. Meristem Family Wealth LLC’s holdings in CVS Health were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ShoreHaven Wealth Partners LLC acquired a new position in CVS Health in the fourth quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. grew its stake in CVS Health by 127.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 360 shares of the pharmacy operator’s stock valued at $25,000 after acquiring an additional 202 shares during the period. Greenhouse Wealth Management LLC acquired a new position in CVS Health in the fourth quarter valued at about $26,000. Lederer & Associates Investment Counsel CA acquired a new position in CVS Health in the first quarter valued at about $30,000. Finally, Reby Advisors LLC acquired a new position in CVS Health in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 74.56% of the company’s stock.

Shares of CVS stock opened at $85.50 on Friday. The firm has a fifty day simple moving average of $81.38. The firm has a market cap of $112.57 billion, a P/E ratio of 15.24, a PEG ratio of 1.69 and a beta of 0.82. CVS Health Co. has a fifty-two week low of $55.36 and a fifty-two week high of $90.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.93.

CVS Health (NYSE:CVS) last issued its earnings results on Tuesday, May 4th. The pharmacy operator reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.32. The firm had revenue of $69.10 billion for the quarter, compared to the consensus estimate of $68.33 billion. CVS Health had a return on equity of 14.45% and a net margin of 2.73%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. Analysts expect that CVS Health Co. will post 7.64 EPS for the current fiscal year.

In related news, Director Larry J. Merlo sold 270,650 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $74.73, for a total transaction of $20,225,674.50. Following the sale, the director now owns 794,676 shares of the company’s stock, valued at approximately $59,386,137.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eva C. Boratto sold 18,882 shares of the firm’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $74.68, for a total value of $1,410,107.76. In the last ninety days, insiders sold 745,337 shares of company stock worth $57,776,525. Company insiders own 0.69% of the company’s stock.

CVS has been the topic of several analyst reports. Mizuho upped their target price on CVS Health from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, May 12th. They noted that the move was a valuation call. Barclays upped their price objective on CVS Health from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 19th. Royal Bank of Canada increased their target price on CVS Health from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Raymond James increased their target price on CVS Health from $90.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 5th. Finally, Morgan Stanley increased their target price on CVS Health from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $92.82.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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

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