Davidson Investment Advisors Acquires 37,462 Shares of CVS Health Corporation (NYSE:CVS)

Davidson Investment Advisors grew its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 23.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 198,833 shares of the pharmacy operator's stock after buying an additional 37,462 shares during the period. Davidson Investment Advisors' holdings in CVS Health were worth $13,471,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC raised its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter worth about $43,000. PARK CIRCLE Co increased its stake in CVS Health by 42.9% in the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after acquiring an additional 300 shares during the period. Finally, Strategic Investment Solutions Inc. IL lifted its stake in CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 446 shares during the period. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVS shares. 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 research report on Tuesday, May 6th. Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Mizuho increased their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Piper Sandler upped their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, UBS Group upped their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.06.

CVS Health Trading Up 0.4%

Shares of NYSE:CVS traded up $0.24 during midday trading on Tuesday, reaching $66.92. The company's stock had a trading volume of 1,259,841 shares, compared to its average volume of 10,795,637. The firm has a market capitalization of $84.66 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.97 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The firm has a 50 day moving average price of $65.14 and a two-hundred day moving average price of $61.86. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company 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 revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 EPS. As a group, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.97%. CVS Health's payout ratio is 63.48%.

Insider Buying and Selling

In related news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

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.