Nexus Investment Management ULC Buys 39,643 Shares of CVS Health Co. (NYSE:CVS)

Nexus Investment Management ULC boosted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,935 shares of the pharmacy operator's stock after acquiring an additional 39,643 shares during the period. CVS Health accounts for 4.4% of Nexus Investment Management ULC's investment portfolio, making the stock its 9th biggest holding. Nexus Investment Management ULC's holdings in CVS Health were worth $29,467,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Exeter Financial LLC increased its stake in CVS Health by 5.1% in the first quarter. Exeter Financial LLC now owns 42,074 shares of the pharmacy operator's stock valued at $2,851,000 after acquiring an additional 2,035 shares during the period. Farmers Trust Co. lifted its position in shares of CVS Health by 5.3% during the first quarter. Farmers Trust Co. now owns 80,718 shares of the pharmacy operator's stock worth $5,469,000 after purchasing an additional 4,096 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of CVS Health by 308.6% during the first quarter. Versant Capital Management Inc now owns 4,061 shares of the pharmacy operator's stock worth $275,000 after purchasing an additional 3,067 shares in the last quarter. First Hawaiian Bank lifted its position in shares of CVS Health by 4.0% during the first quarter. First Hawaiian Bank now owns 102,950 shares of the pharmacy operator's stock worth $6,975,000 after purchasing an additional 3,990 shares in the last quarter. Finally, Marcum Wealth LLC lifted its holdings in CVS Health by 30.2% in the first quarter. Marcum Wealth LLC now owns 11,354 shares of the pharmacy operator's stock valued at $769,000 after buying an additional 2,631 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Performance

CVS Health stock traded down $0.67 during midday trading on Monday, hitting $63.38. The company's stock had a trading volume of 3,701,167 shares, compared to its average volume of 11,183,999. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The company has a 50-day moving average price of $65.62 and a two-hundred day moving average price of $59.67. The company has a market cap of $80.17 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. 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 company earned $1.31 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Barclays decreased their target price on shares of CVS Health from $82.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Finally, Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average price target of $74.75.

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.