Factory Mutual Insurance Co. Purchases 248,000 Shares of CVS Health Co. (NYSE:CVS)

Factory Mutual Insurance Co. boosted its position in CVS Health Co. (NYSE:CVS) by 123.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 449,243 shares of the pharmacy operator’s stock after acquiring an additional 248,000 shares during the period. Factory Mutual Insurance Co.’s holdings in CVS Health were worth $30,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in CVS Health in the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health in the 4th quarter valued at about $29,000. McIlrath & Eck LLC raised its stake in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 174 shares during the period. MV Capital Management Inc. raised its stake in CVS Health by 63.9% in the 1st quarter. MV Capital Management Inc. now owns 741 shares of the pharmacy operator’s stock valued at $50,000 after acquiring an additional 289 shares during the period. Finally, Financial Perspectives Inc raised its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 1.6%

Shares of CVS opened at $67.42 on Friday. The firm has a market cap of $85.29 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.56. The stock has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $60.15. 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.

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, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.95%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director now owns 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CVS. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Mizuho lifted their target price on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.75.

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.