Procyon Advisors LLC Takes Position in CVS Health Co. (NYSE:CVS)

Procyon Advisors LLC bought a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,482 shares of the pharmacy operator's stock, valued at approximately $2,065,000.

Several other large investors have also recently bought and sold shares of CVS. Whitebox Advisors LLC acquired a new position in shares of CVS Health during the fourth quarter valued at about $249,000. B&D White Capital Company LLC acquired a new position in CVS Health in the 4th quarter valued at approximately $417,000. Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health in the 4th quarter worth approximately $121,742,000. Lazard Asset Management LLC grew its holdings in shares of CVS Health by 7.3% during the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after purchasing an additional 293,406 shares in the last quarter. Finally, Seizert Capital Partners LLC increased its position in shares of CVS Health by 22.8% during the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock valued at $25,566,000 after purchasing an additional 105,708 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.8%

Shares of NYSE:CVS opened at $63.61 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The company's 50-day moving average price is $65.21 and its two-hundred day moving average price is $59.90. The firm has a market cap of $80.47 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $94.59 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. CVS Health's payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVS. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wolfe Research lifted their price objective on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada increased their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.75.

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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