CVS Health Corporation (NYSE:CVS) Shares Acquired by Norden Group LLC

Norden Group LLC increased its holdings in CVS Health Corporation (NYSE:CVS) by 3.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 34,104 shares of the pharmacy operator’s stock after buying an additional 983 shares during the period. Norden Group LLC’s holdings in CVS Health were worth $2,311,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Dodge & Cox boosted its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors boosted its stake in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $1,211,582,000 after acquiring an additional 689,867 shares during the period. Capital International Investors lifted its holdings in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after buying an additional 1,212,126 shares during the last quarter. Finally, Invesco Ltd. grew its position in CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator’s stock worth $809,730,000 after buying an additional 4,173,243 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CVS shares. Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research note on Tuesday, April 15th. Robert W. Baird raised their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $74.82.

CVS Health Trading Up 3.3%

Shares of CVS stock opened at $60.67 on Monday. The business has a 50-day moving average price of $64.61 and a two-hundred day moving average price of $63.66. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The firm has a market cap of $76.75 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter in the previous year, the company posted $1.31 EPS. CVS Health’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired 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 directly owned 12,007 shares of the company’s stock, valued at approximately $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 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.