Beacon Financial Group cut its position in CVS Health Co. (NYSE:CVS - Free Report) by 49.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,278 shares of the pharmacy operator's stock after selling 6,026 shares during the quarter. Beacon Financial Group's holdings in CVS Health were worth $425,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the 4th quarter worth $29,000. McIlrath & Eck LLC grew its position in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc grew its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have issued reports on CVS. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. 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 research report on Wednesday, April 9th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.
Check Out Our Latest Stock Report on CVS Health
CVS Health Trading Down 0.8%
Shares of CVS stock opened at $63.05 on Friday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a market capitalization of $79.76 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.98 and a beta of 0.56. The firm has a 50-day moving average price of $65.30 and a 200 day moving average price of $59.84. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.
CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the firm posted $1.31 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. Research analysts forecast that CVS Health Co. 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 was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 63.48%.
CVS Health Company 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.
Read More
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
