CVS Health Co. (NYSE:CVS) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC increased its stake in CVS Health Co. (NYSE:CVSFree Report) by 306.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,046,216 shares of the pharmacy operator’s stock after acquiring an additional 2,297,100 shares during the period. Clearbridge Investments LLC’s holdings in CVS Health were worth $240,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Bryn Mawr Capital Management LLC raised its stake in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after buying an additional 18,385 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after purchasing an additional 233 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of CVS Health by 2.6% in the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares in the last quarter. Riverpoint Wealth Management Holdings LLC acquired a new stake in CVS Health during the fourth quarter valued at approximately $218,000. Finally, Canoe Financial LP boosted its holdings in CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after buying an additional 859,134 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS traded down $0.19 on Monday, hitting $57.49. The company had a trading volume of 6,408,459 shares, compared to its average volume of 11,870,403. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company’s fifty day moving average price is $69.06 and its 200 day moving average price is $72.41. The stock has a market cap of $72.17 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Equities analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. CVS Health’s dividend payout ratio is presently 46.75%.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of recent research reports. Mizuho cut their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Bank of America lowered their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and reduced their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

View Our Latest Report on CVS Health

CVS Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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