Fidelis Capital Partners LLC Grows Position in CVS Health Corporation (NYSE:CVS)

Fidelis Capital Partners LLC increased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 118.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,686 shares of the pharmacy operator's stock after buying an additional 7,410 shares during the quarter. Fidelis Capital Partners LLC's holdings in CVS Health were worth $894,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. Cerity Partners LLC grew its stake in shares of CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Vision Capital Management Inc. grew its stake in shares of CVS Health by 2.3% in the 1st quarter. Vision Capital Management Inc. now owns 43,920 shares of the pharmacy operator's stock valued at $2,976,000 after purchasing an additional 985 shares during the last quarter. Allworth Financial LP grew its stake in shares of CVS Health by 18.5% in the 1st quarter. Allworth Financial LP now owns 25,825 shares of the pharmacy operator's stock valued at $1,702,000 after purchasing an additional 4,030 shares during the last quarter. tru Independence LLC grew its stake in shares of CVS Health by 3.6% in the 1st quarter. tru Independence LLC now owns 70,742 shares of the pharmacy operator's stock valued at $4,793,000 after purchasing an additional 2,437 shares during the last quarter. Finally, Poinciana Advisors Group LLC purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $226,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

Shares of CVS stock opened at $64.73 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The stock has a market cap of $81.88 billion, a PE ratio of 15.45, a P/E/G ratio of 0.94 and a beta of 0.57. The stock has a fifty day moving average price of $65.05 and a 200 day moving average price of $62.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping 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 analysts' expectations of $93.07 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 dividend yield of 4.11%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVS. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Piper Sandler raised their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Jefferies Financial Group raised their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two investment 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. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

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.

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