OLD National Bancorp IN Acquires 49,753 Shares of CVS Health Co. (NYSE:CVS)

OLD National Bancorp IN increased its stake in CVS Health Co. (NYSE:CVS - Free Report) by 20.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 297,713 shares of the pharmacy operator's stock after buying an additional 49,753 shares during the period. OLD National Bancorp IN's holdings in CVS Health were worth $20,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health during the 4th quarter valued at $29,000. McIlrath & Eck LLC boosted 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 valued at $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc boosted its stake in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its stake in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVS shares. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 target price (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Mizuho increased their target price on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada increased 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, Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Two equities research 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 company's stock. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average price target of $74.75.

CVS Health Stock Performance

CVS Health stock traded up $0.53 during trading on Friday, reaching $63.61. The company had a trading volume of 3,264,199 shares, compared to its average volume of 11,085,598. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm's 50-day simple moving average is $65.21 and its 200 day simple moving average is $59.92. The firm has a market capitalization of $80.47 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. CVS Health's payout ratio is 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.