CVS Health Co. (NYSE:CVS) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 27.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,865 shares of the pharmacy operator’s stock after purchasing an additional 2,970 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CVS Health were worth $1,106,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter worth $1,092,040,000. Capital International Investors grew its holdings in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of CVS Health by 573.8% in the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after purchasing an additional 4,729,207 shares during the last quarter. Capital World Investors boosted its stake in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after acquiring an additional 2,297,100 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. SVB Leerink restated 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. Barclays decreased their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company decreased their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

CVS Health Price Performance

CVS stock traded down $0.71 on Friday, reaching $59.32. The company had a trading volume of 8,695,521 shares, compared to its average volume of 9,014,376. The company’s fifty day moving average is $59.27 and its 200 day moving average is $66.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The company has a market cap of $74.47 billion, a P/E ratio of 10.43, a PEG ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results 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 company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. On average, research analysts forecast that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.48%. CVS Health’s payout ratio is 46.75%.

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.