Rafferty Asset Management LLC Buys 15,126 Shares of CVS Health Co. (NYSE:CVS)

Rafferty Asset Management LLC grew its position in CVS Health Co. (NYSE:CVS - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,717 shares of the pharmacy operator's stock after acquiring an additional 15,126 shares during the period. Rafferty Asset Management LLC's holdings in CVS Health were worth $6,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Coppell Advisory Solutions LLC boosted its stake in CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock worth $56,000 after purchasing an additional 189 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $275,000 after buying an additional 200 shares during the last quarter. Manchester Capital Management LLC lifted its position in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC grew its holdings in CVS Health by 3.7% during the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock worth $256,000 after acquiring an additional 204 shares during the last quarter. Finally, Rogco LP increased its position in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after acquiring an additional 210 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company'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 value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.22% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Robert W. Baird boosted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, Wolfe Research raised their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.94.

CVS Health Stock Down 2.5%

CVS stock traded down $1.62 during midday trading on Wednesday, hitting $62.13. The company's stock had a trading volume of 6,152,935 shares, compared to its average volume of 11,369,544. The company's fifty day moving average price is $66.48 and its 200 day moving average price is $59.32. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $78.59 billion, a P/E ratio of 16.97, a PEG ratio of 0.98 and a beta of 0.60.

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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.28%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

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.