Commonwealth Equity Services LLC grew its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 975,941 shares of the pharmacy operator’s stock after acquiring an additional 39,013 shares during the quarter. Commonwealth Equity Services LLC owned about 0.08% of CVS Health worth $67,467,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisor L.P boosted its position in CVS Health by 92.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after purchasing an additional 181,966 shares during the last quarter. United Bank lifted its stake in shares of CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after purchasing an additional 1,260 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of CVS Health by 4,063.8% in the first quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after buying an additional 11,785 shares during the last quarter. Zions Bancorporation N.A. grew its position in CVS Health by 116.9% during the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after buying an additional 1,386 shares during the period. Finally, Ergoteles LLC purchased a new stake in CVS Health during the first quarter valued at approximately $1,551,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of CVS Health from $91.00 to $86.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Evercore ISI upgraded CVS Health from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $81.00 to $83.00 in a research report on Tuesday, September 19th. Morgan Stanley lowered their price objective on CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Sanford C. Bernstein reduced their target price on shares of CVS Health from $93.00 to $80.00 in a report on Tuesday, October 10th. Finally, Wolfe Research raised shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $92.59.
Insider Buying and Selling at CVS Health
In other news, Director Edward J. Ludwig acquired 2,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were acquired at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the completion of the transaction, the director now directly owns 20,630 shares of the company’s stock, valued at approximately $1,453,796.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.
CVS Health Price Performance
Shares of NYSE:CVS traded up $0.56 during mid-day trading on Friday, reaching $68.81. The stock had a trading volume of 6,447,995 shares, compared to its average volume of 7,437,639. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market cap of $88.55 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $104.83. The business’s 50 day moving average price is $69.87 and its 200 day moving average price is $70.02.
CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.08. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The company had revenue of $89.76 billion for the quarter, compared to analysts’ expectations of $88.29 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. CVS Health’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 8.59 EPS for the current fiscal year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 20th were given a $0.605 dividend. The ex-dividend date was Thursday, October 19th. This represents a $2.42 annualized dividend and a yield of 3.52%. CVS Health’s dividend payout ratio is currently 36.50%.
About CVS Health
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The 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.
- Five stocks we like better than CVS Health
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- MarketBeat Week in Review – 11/13 – 11/17
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- 3 large caps with red hot RSIs with upside
- The Significance of Brokerage Rankings in Stock Selection
- Johnson Controls International: Nothing but upside for investors
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.