3,854 Shares in CVS Health Corporation (NYSE:CVS) Bought by First Interstate Bank

First Interstate Bank bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 1st 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.

Several other institutional investors have also recently made changes to their positions in CVS. Proficio Capital Partners LLC bought a new stake in CVS Health in the fourth quarter worth $5,544,000. OFI Invest Asset Management bought a new position in shares of CVS Health in the 4th quarter worth approximately $65,000. Sowell Financial Services LLC boosted its holdings in CVS Health by 17.4% in the fourth quarter. Sowell Financial Services LLC now owns 38,370 shares of the pharmacy operator's stock worth $1,722,000 after acquiring an additional 5,689 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CVS Health by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 318,089 shares of the pharmacy operator's stock worth $14,279,000 after acquiring an additional 56,895 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of CVS Health by 7.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 165,314 shares of the pharmacy operator's stock valued at $7,421,000 after buying an additional 11,955 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Mizuho boosted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Royal Bank Of Canada lifted their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. 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 stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average target price of $75.06.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

NYSE:CVS traded down $0.96 during trading hours on Thursday, hitting $65.70. The company's stock had a trading volume of 2,842,613 shares, compared to its average volume of 10,785,662. The business's 50-day moving average is $65.18 and its two-hundred day moving average is $61.93. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. 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 company has a market capitalization of $83.11 billion, a PE ratio of 15.67, a PEG ratio of 0.96 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 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 net margin of 1.39% and a return on equity of 10.59%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 EPS. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health's payout ratio is currently 63.48%.

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.