Mitsubishi UFJ Asset Management UK Ltd. Takes $1.22 Million Position in CVS Health Corporation (NYSE:CVS)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in CVS Health, purchasing 18,000 shares valued at approximately $1.22 million.
• CVS Health recently reported a quarterly earnings per share of $1.81, exceeding the consensus estimate of $1.46, with revenue of $98.92 billion for the quarter.
• The company declared a quarterly dividend of $0.665 per share, yielding 4.0%, with a payout ratio of 74.30% as of the last report.

Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,000 shares of the pharmacy operator's stock, valued at approximately $1,220,000.

A number of other large investors also recently made changes to their positions in CVS. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares during the period. Hemington Wealth Management raised its stake in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares during the period. McIlrath & Eck LLC raised its stake in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the period. Sumitomo Life Insurance Co. raised its stake in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVS shares. Jefferies Financial Group lifted their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Bernstein Bank lowered their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Barclays lifted their target price on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group lowered their target price on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. Three 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.11.

Insider Buying and Selling

In related news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were purchased 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 owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Up 0.6%

Shares of CVS opened at $65.91 on Thursday. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The company has a market cap of $83.60 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $64.79 and a two-hundred day simple moving average of $64.47.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, July 22nd. CVS Health's payout ratio is currently 74.30%.

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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