Occidental Asset Management LLC boosted its position in CVS Health Corp (NYSE:CVS) by 43.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,087 shares of the pharmacy operator’s stock after acquiring an additional 3,079 shares during the quarter. Occidental Asset Management LLC’s holdings in CVS Health were worth $550,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in CVS. Bay Harbor Wealth Management LLC grew its stake in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 524 shares during the last quarter. Executive Wealth Management LLC grew its stake in shares of CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 217 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of CVS Health during the second quarter worth $31,000. Hudock Capital Group LLC grew its stake in shares of CVS Health by 54.0% during the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 202 shares during the last quarter. Finally, C J Advisory Inc bought a new stake in shares of CVS Health during the first quarter worth $33,000. 77.18% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Morgan Stanley reaffirmed a “buy” rating and set a $74.00 target price on shares of CVS Health in a research note on Sunday. Citigroup boosted their target price on shares of CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Credit Suisse Group cut shares of CVS Health from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $73.00 to $61.00 in a research note on Monday, April 29th. Mizuho set a $71.00 price target on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 5th. Finally, Raymond James cut their price target on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and an average price target of $75.14.
CVS stock traded down $0.11 during midday trading on Thursday, hitting $58.45. The stock had a trading volume of 427,792 shares, compared to its average volume of 8,160,261. The firm has a market cap of $76.38 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15. The company’s fifty day moving average price is $56.23.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.19. The business had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. CVS Health’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 earnings per share. Analysts predict that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 annualized dividend and a yield of 3.42%. CVS Health’s payout ratio is 28.25%.
About CVS Health
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.
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