Meeder Advisory Services Inc. Acquires 926 Shares of CVS Health Co. (NYSE:CVS)

Meeder Advisory Services Inc. increased its stake in CVS Health Co. (NYSE:CVS) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,557 shares of the pharmacy operator’s stock after purchasing an additional 926 shares during the period. Meeder Advisory Services Inc.’s holdings in CVS Health were worth $1,161,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Fiduciary Family Office LLC lifted its holdings in CVS Health by 20.6% in the 1st quarter. Fiduciary Family Office LLC now owns 12,855 shares of the pharmacy operator’s stock worth $1,025,000 after buying an additional 2,198 shares during the period. Sei Investments Co. grew its stake in CVS Health by 12.0% in the first quarter. Sei Investments Co. now owns 1,042,716 shares of the pharmacy operator’s stock worth $83,171,000 after purchasing an additional 112,091 shares during the period. Atomi Financial Group Inc. grew its holdings in CVS Health by 24.4% in the first quarter. Atomi Financial Group Inc. now owns 18,556 shares of the pharmacy operator’s stock worth $1,480,000 after purchasing an additional 3,645 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of CVS Health in the first quarter worth $41,499,000. Finally, River Global Investors LLP grew its position in CVS Health by 131.6% during the 1st quarter. River Global Investors LLP now owns 7,662 shares of the pharmacy operator’s stock valued at $611,000 after purchasing an additional 4,354 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock traded up $1.10 during mid-day trading on Tuesday, reaching $59.77. The company’s stock had a trading volume of 1,763,453 shares, compared to its average volume of 11,680,437. 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 firm’s 50-day moving average is $58.26 and its two-hundred day moving average is $68.61. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a market cap of $75.03 billion, a P/E ratio of 10.31, a PEG ratio of 0.56 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced its quarterly 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). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.45%. CVS Health’s payout ratio is 46.75%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. SVB Leerink reiterated a “market perform” rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Mizuho decreased their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Baird R W raised CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, 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 report on Thursday, May 2nd. Eleven equities 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, the company has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health 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.