Vest Financial LLC increased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 73.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,707 shares of the pharmacy operator's stock after purchasing an additional 7,077 shares during the period. Vest Financial LLC's holdings in CVS Health were worth $1,132,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CVS. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the fourth quarter worth about $29,000. McIlrath & Eck LLC raised its position in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc raised its position in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. increased its holdings in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CVS. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Royal Bank of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Two 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 stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.
Check Out Our Latest Research Report on CVS Health
CVS Health Price Performance
Shares of CVS stock opened at $63.61 on Monday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The stock has a market cap of $80.47 billion, a PE ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm's 50 day moving average price is $65.21 and its two-hundred day moving average price is $59.94.
CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period last year, the firm earned $1.31 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.
CVS Health Announces Dividend
The company also recently declared 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 dividend payout ratio is 63.48%.
CVS Health Company Profile
(
Free Report)
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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