Catalyst Financial Partners LLC Takes $322,000 Position in CVS Health Corporation (NYSE:CVS)

Catalyst Financial Partners LLC purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,756 shares of the pharmacy operator's stock, valued at approximately $322,000.

A number of other institutional investors also recently modified their holdings of CVS. Whitebox Advisors LLC bought a new stake in CVS Health during the fourth quarter worth about $249,000. Cerity Partners LLC raised its holdings in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after acquiring an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares in the last quarter. Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health during the fourth quarter worth about $121,742,000. Finally, Lazard Asset Management LLC raised its holdings in CVS Health by 7.3% during the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after acquiring an additional 293,406 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

NYSE:CVS traded down $1.23 during trading hours on Friday, reaching $62.07. 5,729,025 shares of the company were exchanged, compared to its average volume of 10,734,682. The company has a market capitalization of $78.52 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.91 and a beta of 0.57. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. 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 business has a 50 day moving average of $64.80 and a 200 day moving average of $62.76.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The business 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 10.59% and a net margin of 1.39%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's payout ratio is presently 63.48%.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVS. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Jefferies Financial Group boosted their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, UBS Group boosted their price target on CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Two equities research 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

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.