Fiera Capital Corp Purchases New Shares in CVS Health Corporation (NYSE:CVS)

Key Points

• Fiera Capital Corp has acquired a new stake in CVS Health Corporation, purchasing 4,070 shares valued at approximately $276,000 during the first quarter.
• CVS Health reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations, alongside a revenue of $98.92 billion for the quarter.
• The company declared a quarterly dividend of $0.665 per share, equating to an annualized dividend of $2.66 and a yield of 4.3%, with the ex-dividend date set for July 22nd.

Fiera Capital Corp purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,070 shares of the pharmacy operator's stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC increased its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at $43,000. GW&K Investment Management LLC increased its position in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares during the last quarter. PARK CIRCLE Co increased its position in shares of CVS Health by 42.9% during the 4th quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its position in shares of CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 446 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the subject of several research analyst reports. Barclays set a $79.00 target price on CVS Health and gave the company an "overweight" rating in a research report on Monday, June 2nd. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Royal Bank Of Canada lifted their price objective on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Truist Financial lifted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.67.

CVS Health Stock Down 0.3%

Shares of NYSE CVS opened at $62.11 on Friday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The business has a 50-day simple moving average of $64.52 and a two-hundred day simple moving average of $63.77. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The company has a market cap of $78.57 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. Research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.

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