Invenomic Capital Management LP Acquires 35,949 Shares of CVS Health Co. (NYSE:CVS)

Invenomic Capital Management LP lifted its holdings in CVS Health Co. (NYSE:CVS) by 23.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 189,996 shares of the pharmacy operator’s stock after purchasing an additional 35,949 shares during the period. Invenomic Capital Management LP’s holdings in CVS Health were worth $15,154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in CVS Health by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock worth $14,143,000 after acquiring an additional 4,318 shares during the period. Waverly Advisors LLC raised its stake in CVS Health by 25.0% during the 1st quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator’s stock worth $1,121,000 after acquiring an additional 2,815 shares during the period. Captrust Financial Advisors raised its stake in CVS Health by 4.9% during the 1st quarter. Captrust Financial Advisors now owns 1,892,879 shares of the pharmacy operator’s stock worth $150,976,000 after acquiring an additional 88,113 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in CVS Health during the 1st quarter worth approximately $2,114,000. Finally, Paloma Partners Management Co raised its stake in CVS Health by 502.1% during the 1st quarter. Paloma Partners Management Co now owns 31,913 shares of the pharmacy operator’s stock worth $2,545,000 after acquiring an additional 26,613 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 2.6 %

NYSE CVS traded up $1.61 on Tuesday, hitting $63.18. 10,467,260 shares of the stock were exchanged, compared to its average volume of 11,585,816. 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 stock has a fifty day moving average price of $58.93 and a two-hundred day moving average price of $67.17. The firm has a market capitalization of $79.31 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.58 and a beta of 0.52. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 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 firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.21%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Barclays reduced their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report 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 on the stock in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research report on Tuesday, July 23rd. Finally, Mizuho reduced their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

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.