SG Americas Securities LLC Has $13.78 Million Stake in CVS Health Co. (NYSE:CVS)

SG Americas Securities LLC raised its stake in shares of CVS Health Co. (NYSE:CVS) by 606.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 203,407 shares of the pharmacy operator’s stock after purchasing an additional 174,606 shares during the period. SG Americas Securities LLC’s holdings in CVS Health were worth $13,781,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC boosted its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after buying an additional 437 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Finally, Barclays set a $79.00 price target on shares of CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.75.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director now owns 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Trading Up 0.5%

Shares of CVS stock opened at $64.21 on Wednesday. The company’s fifty day simple moving average is $65.06 and its two-hundred day simple moving average is $60.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The stock has a market capitalization of $81.22 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.14%. CVS Health’s payout ratio is currently 63.48%.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.