Natixis Advisors LLC Acquires 526,240 Shares of CVS Health Corporation (NYSE:CVS)

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Natixis Advisors LLC lifted its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 93.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,091,439 shares of the pharmacy operator's stock after buying an additional 526,240 shares during the period. Natixis Advisors LLC owned approximately 0.09% of CVS Health worth $73,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Whitebox Advisors LLC purchased a new stake in CVS Health in the fourth quarter valued at $249,000. Jennison Associates LLC increased its stake in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC increased its stake in shares of CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after acquiring an additional 129,535 shares during the period. Bank of New York Mellon Corp boosted its holdings in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health during the fourth quarter worth about $121,742,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.7%

Shares of NYSE:CVS traded up $0.42 during midday trading on Friday, hitting $62.52. The stock had a trading volume of 11,376,286 shares, compared to its average volume of 8,510,677. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The business's 50-day simple moving average is $64.56 and its 200-day simple moving average is $63.85. The company has a market cap of $79.09 billion, a P/E ratio of 17.46, a PEG ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its 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 company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 earnings per share. On average, sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, July 22nd. CVS Health's payout ratio is 74.30%.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CVS. Morgan Stanley upped their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Friday. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Bernstein Bank dropped their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Truist Financial raised their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Three equities research 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 company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.11.

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.