L & S Advisors Inc bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,912 shares of the pharmacy operator's stock, valued at approximately $6,837,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Dodge & Cox boosted its holdings in 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 buying an additional 7,075,209 shares in the last quarter. Invesco Ltd. boosted its holdings in CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock worth $809,730,000 after buying an additional 4,173,243 shares in the last quarter. Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health during the fourth quarter worth approximately $121,742,000. Finally, Assenagon Asset Management S.A. boosted its holdings in CVS Health by 310.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after buying an additional 2,666,029 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently weighed in on CVS shares. UBS Group reduced their target price on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday, July 22nd. Morgan Stanley raised their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday. Jefferies Financial Group boosted their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Barclays boosted their price target on shares of CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.11.
View Our Latest Report on CVS Health
CVS Health Stock Up 0.7%
CVS opened at $62.52 on Friday. The business has a 50 day moving average price of $64.56 and a 200 day moving average price of $63.93. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.63 and a current ratio of 0.80. The firm has a market cap of $79.09 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58.
CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company earned $1.83 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.
CVS Health Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.3%. CVS Health's dividend payout ratio (DPR) is 74.30%.
Insider Transactions at CVS Health
In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by company insiders.
About CVS Health
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
