Gateway Investment Advisers LLC Purchases 9,373 Shares of CVS Health Co. (NYSE:CVS)

Gateway Investment Advisers LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 312,463 shares of the pharmacy operator’s stock after purchasing an additional 9,373 shares during the quarter. Gateway Investment Advisers LLC’s holdings in CVS Health were worth $21,169,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC boosted its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Financial Perspectives Inc grew its holdings in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Finally, Compass Planning Associates Inc bought a new stake in CVS Health in the fourth quarter worth $37,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVS. Wells Fargo & Company reiterated an “overweight” rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. UBS Group lifted their price target on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Finally, Piper Sandler upped their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Stock Performance

CVS Health stock opened at $63.61 on Friday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market cap of $80.47 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56. The stock’s 50 day simple moving average is $65.21 and its two-hundred day simple moving average is $59.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. As a group, analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 63.48%.

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.