4,575 Shares in CVS Health Corporation (NYSE:CVS) Purchased by Sunpointe LLC

Key Points

• Sunpointe LLC has acquired 4,575 shares of CVS Health Corporation, valued at around $310,000, during the first quarter of the year.
• CVS Health reported a net revenue of $94.59 billion for its latest quarter, exceeding analysts' expectations and showing a year-over-year growth of 7.0%.
• The company announced a quarterly dividend of $0.665 per share, with a dividend yield of 4.38%, to be paid on August 1st.

Sunpointe LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 4,575 shares of the pharmacy operator's stock, valued at approximately $310,000.

Other large investors have also bought and sold shares of the company. GW&K Investment Management LLC increased its position in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Sierra Ocean LLC increased its holdings in CVS Health by 584.8% in the 1st quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after acquiring an additional 614 shares during the last quarter. MV Capital Management Inc. increased its holdings in CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after acquiring an additional 289 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in CVS Health by 147.2% in the 1st quarter. Dunhill Financial LLC now owns 749 shares of the pharmacy operator's stock worth $51,000 after acquiring an additional 446 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Stock Down 1.7%

CVS stock traded down $1.05 during midday trading on Monday, hitting $59.65. The stock had a trading volume of 8,952,000 shares, compared to its average volume of 6,689,161. The firm has a market cap of $75.46 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57. The business has a 50-day moving average of $64.55 and a two-hundred day moving average of $63.74. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63.

CVS Health (NYSE:CVS - Get Free Report) last issued 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 company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVS. Mizuho lifted their price objective on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. UBS Group reduced their target price on CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday, July 22nd. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.82.

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.