Gladius Capital Management LP Raises Stock Position in CVS Health Co. (NYSE:CVS)

Gladius Capital Management LP raised its stake in shares of CVS Health Co. (NYSE:CVS) by 21.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,990 shares of the pharmacy operator’s stock after buying an additional 3,372 shares during the period. CVS Health makes up 0.1% of Gladius Capital Management LP’s portfolio, making the stock its 4th biggest position. Gladius Capital Management LP’s holdings in CVS Health were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Gradient Investments LLC grew its stake in shares of CVS Health by 7.2% in the 2nd quarter. Gradient Investments LLC now owns 222,938 shares of the pharmacy operator’s stock worth $13,167,000 after purchasing an additional 15,038 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CVS Health by 112.3% in the 2nd quarter. Blue Trust Inc. now owns 9,111 shares of the pharmacy operator’s stock worth $538,000 after purchasing an additional 4,820 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of CVS Health by 113.0% in the 2nd quarter. Portside Wealth Group LLC now owns 25,957 shares of the pharmacy operator’s stock worth $1,533,000 after purchasing an additional 13,768 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of CVS Health by 422.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,332,242 shares of the pharmacy operator’s stock worth $78,682,000 after purchasing an additional 1,077,027 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of CVS Health by 1.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 98,677 shares of the pharmacy operator’s stock worth $5,828,000 after purchasing an additional 935 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.79 on Friday, hitting $58.35. The stock had a trading volume of 7,442,666 shares, compared to its average volume of 11,432,018. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. 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 price is $59.04 and its 200-day moving average price is $65.61. The company has a market capitalization of $73.25 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, equities research analysts predict 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. Investors 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 yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Evercore ISI decreased their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Bank of America decreased their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Barclays dropped their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $73.24.

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.