Bristlecone Advisors LLC Has $587,000 Position in CVS Health Co. (NYSE:CVS)

Bristlecone Advisors LLC increased its stake in shares of CVS Health Co. (NYSE:CVS) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,945 shares of the pharmacy operator’s stock after purchasing an additional 828 shares during the period. Bristlecone Advisors LLC’s holdings in CVS Health were worth $587,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverpoint Wealth Management Holdings LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $218,000. Canoe Financial LP increased its stake in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares in the last quarter. Steph & Co. raised its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Forum Financial Management LP grew its holdings in shares of CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after buying an additional 2,901 shares during the period. Finally, Douglas Lane & Associates LLC increased its position in shares of CVS Health by 1.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after buying an additional 16,840 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Monday, August 19th. Barclays lowered their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lowered 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 report on Thursday, May 2nd. Finally, UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $73.24.

CVS Health Stock Performance

Shares of CVS traded down $0.01 during midday trading on Monday, reaching $58.74. The stock had a trading volume of 3,794,205 shares, compared to its average volume of 11,242,852. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $58.86 and a 200-day simple moving average of $65.01. The firm has a market cap of $73.74 billion, a PE ratio of 10.37, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.53%. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Company 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.