Mather Group LLC. Sells 414 Shares of CVS Health Co. (NYSE:CVS)

Posted by Defense World Staff on Jun 18th, 2023

Mather Group LLC. cut its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,907 shares of the pharmacy operator’s stock after selling 414 shares during the period. Mather Group LLC.’s holdings in CVS Health were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVS. Vanguard Group Inc. increased its position in shares of CVS Health by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock valued at $11,056,706,000 after purchasing an additional 1,726,512 shares during the last quarter. Morgan Stanley boosted its stake in CVS Health by 10.9% in the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after buying an additional 3,311,928 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares during the last quarter. Norges Bank purchased a new position in shares of CVS Health during the fourth quarter worth approximately $1,425,416,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CVS Health by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,055,009 shares of the pharmacy operator’s stock valued at $1,103,488,000 after purchasing an additional 155,280 shares in the last quarter. Institutional investors own 77.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVS. Truist Financial lowered their price target on shares of CVS Health from $115.00 to $109.00 in a research note on Thursday, May 4th. Cantor Fitzgerald began coverage on CVS Health in a research note on Thursday, April 20th. They issued an “overweight” rating and a $87.00 target price for the company. Wells Fargo & Company lowered their price objective on CVS Health from $95.00 to $76.00 in a research report on Monday, May 8th. Barclays cut their target price on CVS Health from $100.00 to $90.00 in a research note on Thursday, May 4th. Finally, UBS Group lowered their price target on CVS Health from $102.00 to $94.00 in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.58.

CVS Health Stock Down 2.6 %

CVS stock opened at $67.72 on Friday. The business has a 50 day moving average of $71.01 and a 200 day moving average of $81.52. The firm has a market cap of $86.82 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.26 and a beta of 0.63. CVS Health Co. has a twelve month low of $66.34 and a twelve month high of $107.26. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 0.79.

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

Insider Transactions at CVS Health

In other news, CEO Karen S. Lynch acquired 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average cost of $69.75 per share, for a total transaction of $976,500.00. Following the acquisition, the chief executive officer now directly owns 431,392 shares in the company, valued at $30,089,592. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

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.