Baker Tilly Wealth Management LLC purchased a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,097 shares of the pharmacy operator's stock, valued at approximately $887,000.
Several other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter valued at about $29,000. McIlrath & Eck LLC grew its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Financial Perspectives Inc raised its holdings in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new position in shares of CVS Health during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 80.66% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Piper Sandler upped their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Two 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 stock. According to data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and an average target price of $74.75.
View Our Latest Analysis on CVS
CVS Health Price Performance
Shares of CVS traded up $0.02 during trading hours on Tuesday, hitting $63.62. 6,453,352 shares of the company were exchanged, compared to its average volume of 11,176,292. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The company has a market capitalization of $80.48 billion, a PE ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.60. The firm has a fifty day simple moving average of $65.54 and a 200-day simple moving average of $59.74.
CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.18%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.
Insider Activity
In other news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.22% of the stock is currently 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.
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