Dixon Mitchell Investment Counsel Inc. Buys 11,402 Shares of CVS Health Co. (NYSE:CVS)

Dixon Mitchell Investment Counsel Inc. grew its stake in CVS Health Co. (NYSE:CVS) by 1.7% during the 1st quarter, HoldingsChannel reports. The fund owned 694,255 shares of the pharmacy operator’s stock after purchasing an additional 11,402 shares during the quarter. CVS Health comprises 2.8% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 14th biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in CVS Health were worth $55,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atticus Wealth Management LLC lifted its stake in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas lifted its stake in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new position in CVS Health during the 4th quarter valued at about $34,000. Finally, Steph & Co. boosted its holdings in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS stock traded down $0.63 during midday trading on Tuesday, hitting $57.52. The company’s stock had a trading volume of 6,871,861 shares, compared to its average volume of 12,034,619. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a 50 day moving average of $59.34 and a two-hundred day moving average of $70.02. The firm has a market capitalization of $72.21 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company 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 revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS. On average, analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. Mizuho reduced 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. Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, SVB Leerink reaffirmed a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.05.

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.