Bayforest Capital Ltd Takes Position in CVS Health Corporation (NYSE:CVS)

Key Points

• Bayforest Capital Ltd purchased 4,881 shares of CVS Health Corporation for approximately $331,000, marking a new stake in the company.
• CVS Health reported $1.81 earnings per share for the last quarter, exceeding analysts' estimates of $1.46, with a revenue of $98.92 billion, a year-over-year increase of 8.4%.
• The company declared a $0.665 quarterly dividend with a yield of 4.3%, scheduled for payment on August 1st, following a record date of July 22nd.

Bayforest Capital Ltd purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,881 shares of the pharmacy operator's stock, valued at approximately $331,000.

Several other large investors have also recently modified their holdings of the business. Cutler Investment Counsel LLC raised its stake in shares of CVS Health by 3.1% during the first quarter. Cutler Investment Counsel LLC now owns 131,744 shares of the pharmacy operator's stock valued at $8,926,000 after acquiring an additional 3,909 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of CVS Health during the first quarter worth $2,135,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of CVS Health during the first quarter worth $972,000. Banque Cantonale Vaudoise acquired a new stake in shares of CVS Health during the first quarter worth $3,140,000. Finally, Meeder Asset Management Inc. increased its position in shares of CVS Health by 11,769.9% during the first quarter. Meeder Asset Management Inc. now owns 41,782 shares of the pharmacy operator's stock worth $2,831,000 after buying an additional 41,430 shares during the period. Institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company restated 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. Mizuho raised their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Jefferies Financial Group raised their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. UBS Group reduced their price target 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. Finally, Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.67.

CVS Health Stock Down 0.3%

CVS opened at $62.11 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The company's 50-day moving average is $64.52 and its 200 day moving average is $63.77. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market capitalization of $78.57 billion, a P/E ratio of 14.82, a PEG ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results 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. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the firm earned $1.83 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. Research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.22% of the stock is owned by insiders.

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.

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