McLean Asset Management Corp Makes New Investment in CVS Health Co. (NYSE:CVS)

McLean Asset Management Corp acquired a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,127 shares of the pharmacy operator's stock, valued at approximately $347,000.

Other large investors have also recently made changes to their positions in the company. InvesTrust raised its position in shares of CVS Health by 6.0% in the first quarter. InvesTrust now owns 43,269 shares of the pharmacy operator's stock worth $2,931,000 after acquiring an additional 2,454 shares during the period. Fulton Bank N.A. raised its position in shares of CVS Health by 13.9% in the first quarter. Fulton Bank N.A. now owns 37,803 shares of the pharmacy operator's stock worth $2,561,000 after acquiring an additional 4,613 shares during the period. HBW Advisory Services LLC acquired a new position in shares of CVS Health in the first quarter worth about $221,000. Merit Financial Group LLC raised its position in shares of CVS Health by 157.4% in the first quarter. Merit Financial Group LLC now owns 42,653 shares of the pharmacy operator's stock worth $2,890,000 after acquiring an additional 26,084 shares during the period. Finally, NBC Securities Inc. raised its position in shares of CVS Health by 100,014.3% in the first quarter. NBC Securities Inc. now owns 7,008 shares of the pharmacy operator's stock worth $474,000 after acquiring an additional 7,001 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Barclays dropped their price objective on shares of CVS Health from $82.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, UBS Group increased their price target 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 analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.75.

CVS Health Trading Down 0.0%

Shares of CVS stock traded down $0.03 during trading hours on Wednesday, hitting $63.56. The company had a trading volume of 5,852,394 shares, compared to its average volume of 11,131,533. The company's fifty day moving average is $65.47 and its 200 day moving average is $59.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market capitalization of $80.40 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued 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. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the business posted $1.31 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health's dividend payout ratio is presently 63.48%.

CVS Health 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.