CVS Health Co. (NYSE:CVS) Stock Position Boosted by Capital International Sarl

Capital International Sarl boosted its stake in CVS Health Co. (NYSE:CVS) by 63.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,051 shares of the pharmacy operator’s stock after buying an additional 12,852 shares during the period. Capital International Sarl’s holdings in CVS Health were worth $2,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Norges Bank acquired a new stake in CVS Health in the 4th quarter valued at about $1,092,040,000. Capital International Investors lifted its holdings in CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in 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 acquiring an additional 4,729,207 shares during the last quarter. Clearbridge Investments LLC lifted its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in CVS Health during the fourth quarter valued at about $111,209,000. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

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

CVS Health Stock Performance

CVS stock traded up $2.36 during midday trading on Friday, hitting $61.01. 14,551,276 shares of the company traded hands, compared to its average volume of 11,599,269. The business has a 50 day simple moving average of $58.85 and a 200-day simple moving average of $67.47. The stock has a market capitalization of $76.59 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. 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 twelve month low of $52.77 and a twelve month high of $83.25.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.36%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of research firms have commented on CVS. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and reduced their price objective for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Robert W. Baird began coverage on shares of CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. The Goldman Sachs Group reduced their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.