Exchange Traded Concepts LLC Sells 2,972 Shares of CVS Health Corporation (NYSE:CVS)

Exchange Traded Concepts LLC lowered its position in CVS Health Corporation (NYSE:CVS) by 17.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,542 shares of the pharmacy operator’s stock after selling 2,972 shares during the period. Exchange Traded Concepts LLC’s holdings in CVS Health were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Dodge & Cox increased its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Capital World Investors increased its position in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Geode Capital Management LLC increased its position in shares of CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after acquiring an additional 689,867 shares during the period. Capital International Investors increased its position in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $66.91 on Friday. The company has a market cap of $84.64 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $64.98 and a two-hundred day moving average of $60.35.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the firm earned $1.31 earnings per share. CVS Health’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Royal Bank Of Canada lifted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Mizuho lifted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Piper Sandler lifted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Barclays set a $79.00 price objective on shares of CVS Health and gave the company an “overweight” rating in a report on Monday, June 2nd. Finally, Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

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.