MV Capital Management Inc. Has $50,000 Position in CVS Health Co. (NYSE:CVS)

MV Capital Management Inc. raised its holdings in CVS Health Co. (NYSE:CVS) by 63.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 741 shares of the pharmacy operator’s stock after buying an additional 289 shares during the period. MV Capital Management Inc.’s holdings in CVS Health were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Dodge & Cox increased its holdings in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors grew its holdings in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC raised its position in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after buying an additional 689,867 shares during the last quarter. Capital International Investors grew its stake in shares of CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 2.3%

Shares of CVS Health stock opened at $65.71 on Thursday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market cap of $83.12 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 0.98 and a beta of 0.56. The company’s 50-day moving average price is $65.11 and its 200-day moving average price is $60.05.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business 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%. CVS Health’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.31 earnings per share. On average, equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is presently 63.48%.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Royal Bank of Canada lifted their price target on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Piper Sandler upped their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.75.

About CVS Health

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.