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First Interstate Bank Makes New $261,000 Investment in CVS Health Corporation (NYSE:CVS)

CVS Health logo with Medical background

First Interstate Bank bought a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,854 shares of the pharmacy operator's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in CVS Health by 8.9% in the first quarter. Nisa Investment Advisors LLC now owns 331,498 shares of the pharmacy operator's stock worth $22,459,000 after purchasing an additional 26,981 shares in the last quarter. Topsail Wealth Management LLC bought a new position in CVS Health in the first quarter worth $337,000. Moloney Securities Asset Management LLC raised its holdings in CVS Health by 20.3% in the first quarter. Moloney Securities Asset Management LLC now owns 32,838 shares of the pharmacy operator's stock worth $2,225,000 after purchasing an additional 5,533 shares in the last quarter. Banque Pictet & Cie SA bought a new position in CVS Health in the first quarter worth $217,000. Finally, Wealth Advisory Solutions LLC bought a new position in shares of CVS Health during the first quarter valued at $505,000. Institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone bought 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 acquisition, the director owned 12,007 shares in the company, valued at $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 this hyperlink. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

NYSE:CVS traded down $0.89 on Friday, hitting $64.73. The stock had a trading volume of 7,020,831 shares, compared to its average volume of 10,806,408. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. 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 business's 50-day simple moving average is $65.05 and its two-hundred day simple moving average is $62.35. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm earned $1.31 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Tuesday, July 22nd. CVS Health's payout ratio is 63.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Barclays set a $79.00 price target on CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Finally, UBS Group raised their price target on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

Get Our Latest Report on CVS Health

CVS Health Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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