ASR Vermogensbeheer N.V. Makes New Investment in CVS Health Corporation (NYSE:CVS)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $9 million in CVS Health, purchasing 133,275 shares in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for CVS Health, with target prices ranging from $67.00 to $84.00.
• CVS Health reported a quarterly EPS of $1.81, exceeding analysts' expectations of $1.46, with revenues reaching $98.92 billion.

ASR Vermogensbeheer N.V. purchased a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 133,275 shares of the pharmacy operator's stock, valued at approximately $9,030,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors lifted its position in shares of 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 acquiring an additional 12,819,148 shares in the last quarter. Dodge & Cox raised its stake in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Goldman Sachs Group Inc. lifted its holdings in CVS Health by 87.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after purchasing an additional 4,632,530 shares in the last quarter. Fairfax Financial Holdings Ltd. Can bought a new position in CVS Health in the 4th quarter worth approximately $121,742,000. Finally, Assenagon Asset Management S.A. grew its holdings in CVS Health by 310.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock valued at $238,739,000 after buying an additional 2,666,029 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, UBS Group cut 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. Three 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 company's stock. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $75.11.

CVS Health Stock Up 0.2%

NYSE:CVS opened at $63.55 on Thursday. The company has a market cap of $80.60 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $64.63 and a 200-day simple moving average of $64.07.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. Analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

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.

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