OMERS ADMINISTRATION Corp Purchases 8,375 Shares of CVS Health Co. (NYSE:CVS)

OMERS ADMINISTRATION Corp increased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,458 shares of the pharmacy operator's stock after buying an additional 8,375 shares during the period. OMERS ADMINISTRATION Corp's holdings in CVS Health were worth $2,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of CVS Health during the 4th quarter valued at about $839,574,000. Capital World Investors lifted its stake in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers boosted its holdings in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Dodge & Cox grew its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Up 3.4%

CVS traded up $2.04 during mid-day trading on Friday, reaching $62.51. 10,777,559 shares of the stock were exchanged, compared to its average volume of 11,442,534. The company has a 50 day moving average price of $66.57 and a two-hundred day moving average price of $59.22. The stock has a market capitalization of $79.07 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.26%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Mizuho increased their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Three 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.94.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction 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 approximately $2,625,045.20. This represents a 320.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.

CVS Health Company 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.