Fernwood Investment Management LLC boosted its stake in CVS Health Corp (NYSE:CVS) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,140 shares of the pharmacy operator’s stock after purchasing an additional 1,047 shares during the quarter. CVS Health makes up 1.5% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 14th largest position. Fernwood Investment Management LLC’s holdings in CVS Health were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in shares of CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after acquiring an additional 9,194,005 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after acquiring an additional 4,376,604 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CVS Health by 28.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after acquiring an additional 3,041,266 shares during the last quarter. Norges Bank bought a new stake in CVS Health in the 4th quarter worth approximately $840,254,000. Finally, Nordea Investment Management AB lifted its position in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after buying an additional 340,315 shares during the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
CVS Health stock traded down $0.12 during trading hours on Thursday, reaching $58.44. The company had a trading volume of 337,476 shares, compared to its average volume of 8,160,261. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. The stock has a 50-day simple moving average of $56.23. The stock has a market cap of $76.38 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.42%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
A number of analysts recently weighed in on the company. Guggenheim assumed coverage on CVS Health in a research report on Thursday, April 18th. They issued a “buy” rating and a $75.00 target price for the company. ValuEngine downgraded CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $63.00 target price on CVS Health and gave the stock a “hold” rating in a research report on Friday, May 3rd. Citigroup boosted their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $80.00 target price on shares of CVS Health in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $75.14.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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