Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CVS Health Co. (NYSE:CVS – Get Rating) by 13.7% during the 1st quarter, HoldingsChannel reports. The firm owned 186,557 shares of the pharmacy operator’s stock after buying an additional 22,462 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CVS Health were worth $18,881,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its position in CVS Health by 0.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 72,456 shares of the pharmacy operator’s stock worth $7,333,000 after purchasing an additional 246 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of CVS Health by 6.7% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 4,252 shares of the pharmacy operator’s stock valued at $430,000 after buying an additional 268 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of CVS Health by 13.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,065 shares of the pharmacy operator’s stock valued at $209,000 after buying an additional 251 shares during the period. L.M. Kohn & Company acquired a new stake in shares of CVS Health during the 1st quarter valued at $1,637,000. Finally, M Holdings Securities Inc. acquired a new stake in shares of CVS Health during the 1st quarter valued at $3,979,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on CVS shares. Evercore ISI lifted their target price on shares of CVS Health from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. Credit Suisse Group lifted their target price on shares of CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CVS Health from $113.00 to $120.00 in a research note on Thursday, August 4th. Loop Capital assumed coverage on shares of CVS Health in a research note on Thursday, June 16th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of CVS Health from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.59.
Insider Transactions at CVS Health
CVS Health Stock Performance
NYSE:CVS opened at $102.06 on Friday. The firm’s 50-day moving average is $99.60 and its 200-day moving average is $99.39. CVS Health Co. has a 52-week low of $81.78 and a 52-week high of $111.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.65 and a current ratio of 0.91. The company has a market cap of $133.99 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.56 and a beta of 0.73.
CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.24. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The company had revenue of $80.64 billion for the quarter, compared to the consensus estimate of $76.38 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 8.53 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 22nd were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.16%. CVS Health’s payout ratio is 35.77%.
CVS Health Company Profile
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.
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