Sonora Investment Management Group LLC Purchases 1,950 Shares of CVS Health Co. (NYSE:CVS)

Sonora Investment Management Group LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 36.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,234 shares of the pharmacy operator’s stock after buying an additional 1,950 shares during the quarter. Sonora Investment Management Group LLC’s holdings in CVS Health were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter worth $29,000. McIlrath & Eck LLC raised its holdings in 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 purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc raised its holdings in 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 purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. raised its holdings in 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 purchasing an additional 437 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE CVS opened at $64.21 on Wednesday. The firm’s 50-day moving average price is $65.06 and its 200-day moving average price is $60.01. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $81.22 billion, a PE ratio of 17.54, a PEG ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly 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. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. As a group, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an “overweight” rating in a report on Monday, June 2nd. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Finally, Truist Financial increased their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were bought 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 represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Company 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.