Bridgefront Capital LLC Purchases Shares of 2,662 CVS Health Co. (NYSE:CVS)

Bridgefront Capital LLC acquired a new position in CVS Health Co. (NYSE:CVS – Get Rating) during the third quarter, HoldingsChannel reports. The fund acquired 2,662 shares of the pharmacy operator’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in CVS Health by 1.5% in the third quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock worth $11,056,706,000 after purchasing an additional 1,726,512 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,699,284 shares of the pharmacy operator’s stock valued at $1,184,085,000 after acquiring an additional 134,457 shares during the period. Legal & General Group Plc lifted its stake in shares of CVS Health by 2.2% during the second quarter. Legal & General Group Plc now owns 10,321,160 shares of the pharmacy operator’s stock valued at $956,359,000 after acquiring an additional 220,516 shares during the period. Nordea Investment Management AB lifted its stake in shares of CVS Health by 38.6% during the second quarter. Nordea Investment Management AB now owns 9,680,490 shares of the pharmacy operator’s stock valued at $899,511,000 after acquiring an additional 2,697,382 shares during the period. Finally, Boston Partners lifted its stake in shares of CVS Health by 15.5% during the third quarter. Boston Partners now owns 8,034,788 shares of the pharmacy operator’s stock valued at $766,750,000 after acquiring an additional 1,077,638 shares during the period. Institutional investors and hedge funds own 77.29% of the company’s stock.

CVS Health Stock Up 0.6 %

NYSE:CVS opened at $75.83 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market cap of $97.37 billion, a PE ratio of 24.30, a PEG ratio of 1.18 and a beta of 0.65. CVS Health Co. has a 52-week low of $74.52 and a 52-week high of $109.69. The stock has a 50-day simple moving average of $85.75 and a 200 day simple moving average of $93.22.

CVS Health (NYSE:CVS – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, beating the consensus estimate of $1.92 by $0.07. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The firm had revenue of $83.85 billion during the quarter, compared to analysts’ expectations of $76.37 billion. During the same period in the prior year, the firm posted $1.98 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health Co. will post 8.84 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 21st will be given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 3.19%. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TheStreet raised CVS Health from a “c+” rating to a “b” rating in a research note on Friday, November 25th. Wells Fargo & Company lowered their price target on CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a report on Tuesday, January 3rd. Morgan Stanley increased their price target on CVS Health from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. Raymond James lowered their price target on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, February 9th. Finally, Credit Suisse Group increased their price target on CVS Health from $117.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.65.

CVS Health Profile

(Get Rating)

CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.