Sage Mountain Advisors LLC bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,248 shares of the pharmacy operator's stock, valued at approximately $491,000.
A number of other hedge funds also recently modified their holdings of CVS. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Sierra Ocean LLC raised its stake in shares of CVS Health by 584.8% in the first quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator's stock worth $49,000 after purchasing an additional 614 shares during the last quarter. MV Capital Management Inc. boosted its holdings in CVS Health by 63.9% during the first quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator's stock worth $50,000 after purchasing an additional 289 shares during the last quarter. Dunhill Financial LLC grew its position 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 purchasing an additional 446 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in CVS Health in the 1st quarter valued at about $54,000. Institutional investors own 80.66% of the company's stock.
Insider Buying and Selling
In related news, Director Guy P. Sansone purchased 1,570 shares of the company's 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 transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.
CVS Health Price Performance
CVS traded down $1.34 during trading on Friday, reaching $61.96. 3,221,315 shares of the company were exchanged, compared to its average volume of 10,725,153. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company has a market cap of $78.38 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.91 and a beta of 0.57. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company's 50-day moving average is $64.80 and its two-hundred day moving average is $62.76.
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 analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period last year, the business earned $1.31 earnings per share. CVS Health's revenue was up 7.0% compared to the same quarter last year. Research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 63.48%.
Analyst Ratings Changes
A number of brokerages recently commented on CVS. Robert W. Baird increased their price target on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Truist Financial boosted their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $75.06.
Read Our Latest Stock Report on CVS Health
CVS Health Profile
(
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.
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