China Universal Asset Management Co. Ltd. Buys New Position in CVS Health Corporation (NYSE:CVS)

China Universal Asset Management Co. Ltd. purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 37,871 shares of the pharmacy operator's stock, valued at approximately $2,566,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Essex Financial Services Inc. grew its holdings in CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after buying an additional 166 shares in the last quarter. McIlrath & Eck LLC grew its stake in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after acquiring an additional 178 shares during the period. Horizon Bancorp Inc. IN lifted its stake in CVS Health by 7.4% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator's stock worth $177,000 after purchasing an additional 180 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings in CVS Health by 17.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after purchasing an additional 189 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVS shares. Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Mizuho upped their target price on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Piper Sandler lifted their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Finally, Jefferies Financial Group raised their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

CVS Health Trading Down 1.9%

CVS Health stock traded down $1.25 during mid-day trading on Thursday, hitting $65.41. The company's stock had a trading volume of 3,735,929 shares, compared to its average volume of 10,200,552. The business has a 50 day moving average price of $65.18 and a 200-day moving average price of $61.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a market cap of $82.75 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.96 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released 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. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the company posted $1.31 EPS. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that CVS Health Corporation will post 5.89 EPS for the current 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 issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.07%. CVS Health's dividend payout ratio is currently 63.48%.

CVS Health Company 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.