Avestar Capital LLC acquired a new stake in shares of CVS Health Corp (NYSE:CVS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,990 shares of the pharmacy operator’s stock, valued at approximately $259,000.
Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of CVS Health by 0.5% during the 1st quarter. State Street Corp now owns 56,039,417 shares of the pharmacy operator’s stock worth $3,324,819,000 after buying an additional 251,722 shares during the period. Morgan Stanley increased its holdings in CVS Health by 19.4% during the first quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock worth $1,224,919,000 after buying an additional 3,352,364 shares during the last quarter. Geode Capital Management LLC increased its holdings in CVS Health by 3.1% during the first quarter. Geode Capital Management LLC now owns 19,245,378 shares of the pharmacy operator’s stock worth $1,139,748,000 after buying an additional 577,235 shares during the last quarter. Capital World Investors increased its holdings in CVS Health by 12.5% during the first quarter. Capital World Investors now owns 12,343,789 shares of the pharmacy operator’s stock worth $732,357,000 after buying an additional 1,369,061 shares during the last quarter. Finally, Veritas Asset Management LLP increased its holdings in CVS Health by 32.1% during the first quarter. Veritas Asset Management LLP now owns 10,235,658 shares of the pharmacy operator’s stock worth $607,282,000 after buying an additional 2,487,300 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Thursday, May 14th. They noted that the move was a valuation call. Robert W. Baird lifted their price objective on shares of CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. SunTrust Banks reduced their price objective on shares of CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $80.35.
In other CVS Health news, EVP Alan Lotvin purchased 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $63.14 per share, for a total transaction of $315,700.00. Following the acquisition, the executive vice president now owns 15,161 shares of the company’s stock, valued at $957,265.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.
CVS stock opened at $62.94 on Friday. The company has a market cap of $83.65 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The business has a 50-day simple moving average of $63.99 and a 200 day simple moving average of $64.46. CVS Health Corp has a 52 week low of $52.04 and a 52 week high of $77.03. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 1.29.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.28. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The business had revenue of $66.76 billion during the quarter, compared to the consensus estimate of $64.11 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. CVS Health’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that CVS Health Corp will post 7.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, July 22nd. CVS Health’s payout ratio is 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
Further Reading: What is the S&P/ASX 200 Index?
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.