Bridgefront Capital LLC Takes $523,000 Position in CVS Health Co. (NYSE:CVS)

Bridgefront Capital LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,644 shares of the pharmacy operator's stock, valued at approximately $523,000.

A number of other institutional investors also recently made changes to their positions in CVS. Principal Financial Group Inc. grew its stake in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock valued at $90,200,000 after acquiring an additional 66,244 shares in the last quarter. InvesTrust acquired a new position in shares of CVS Health during the 4th quarter worth approximately $1,823,000. Watts Gwilliam & Co. LLC increased its holdings in shares of CVS Health by 9.8% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,302 shares of the pharmacy operator's stock worth $334,000 after purchasing an additional 650 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in CVS Health by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator's stock valued at $7,795,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Ridgewood Investments LLC grew its stake in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Argus set a $77.00 price objective on CVS Health in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and an average target price of $74.81.

CVS Health Stock Up 1.6 %

Shares of CVS Health stock traded up $1.04 during trading on Thursday, reaching $67.82. 9,925,732 shares of the company traded hands, compared to its average volume of 11,419,317. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a market capitalization of $85.51 billion, a PE ratio of 18.53, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a 50 day moving average price of $66.90 and a 200-day moving average price of $58.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company's quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.92%. CVS Health's dividend payout ratio is presently 63.48%.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by company insiders.

CVS Health Profile

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.