IFM Investors Pty Ltd Has $21.47 Million Position in CVS Health Co. (NYSE:CVS)

Posted by MarketBeat News on Aug 1st, 2022

IFM Investors Pty Ltd increased its position in CVS Health Co. (NYSE:CVS – Get Rating) by 22.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,156 shares of the pharmacy operator’s stock after buying an additional 39,001 shares during the quarter. IFM Investors Pty Ltd’s holdings in CVS Health were worth $21,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in CVS Health during the 4th quarter valued at approximately $1,346,805,000. Veritas Asset Management LLP boosted its holdings in shares of CVS Health by 30.1% during the 4th quarter. Veritas Asset Management LLP now owns 14,514,784 shares of the pharmacy operator’s stock worth $1,497,345,000 after buying an additional 3,361,760 shares in the last quarter. Boston Partners boosted its holdings in shares of CVS Health by 39.6% during the 4th quarter. Boston Partners now owns 6,686,484 shares of the pharmacy operator’s stock worth $689,710,000 after buying an additional 1,895,954 shares in the last quarter. State Street Corp boosted its holdings in shares of CVS Health by 2.8% during the 4th quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock worth $5,860,552,000 after buying an additional 1,560,168 shares in the last quarter. Finally, Stonegate Investment Group LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $64,386,000. Institutional investors and hedge funds own 78.00% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on CVS Health from $110.00 to $113.00 in a report on Thursday, May 5th. Loop Capital assumed coverage on CVS Health in a report on Thursday, June 16th. They issued a “buy” rating and a $120.00 target price on the stock. Tigress Financial increased their target price on CVS Health from $122.00 to $125.00 in a report on Thursday, April 7th. Finally, Sanford C. Bernstein cut CVS Health from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $122.00 to $112.00 in a report on Thursday, May 26th. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $116.05.

CVS Health Trading Up 0.2 %

Shares of CVS opened at $95.68 on Monday. The business has a 50-day moving average of $94.13 and a 200 day moving average of $100.07. CVS Health Co. has a fifty-two week low of $79.33 and a fifty-two week high of $111.25. The firm has a market cap of $125.47 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.62 and a current ratio of 0.88.

CVS Health (NYSE:CVS – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.08. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. The company had revenue of $76.83 billion during the quarter, compared to analyst estimates of $75.30 billion. During the same quarter last year, the firm posted $2.04 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts forecast that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 22nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $2.20 annualized dividend and a yield of 2.30%. CVS Health’s dividend payout ratio is currently 36.54%.

Insiders Place Their Bets

In other news, EVP Thomas M. Moriarty sold 138,654 shares of CVS Health stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the sale, the executive vice president now owns 626,273 shares in the company, valued at approximately $59,495,935. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by corporate insiders.

CVS Health Profile

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.