Fisher Funds Management LTD Acquires Shares of 114,549 CVS Health Co. (NYSE:CVS)

Fisher Funds Management LTD bought a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 114,549 shares of the pharmacy operator’s stock, valued at approximately $5,103,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after purchasing an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 2.6 %

Shares of NYSE CVS opened at $63.42 on Friday. The business has a fifty day moving average price of $52.39 and a 200 day moving average price of $56.22. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CVS. UBS Group decreased their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Wolfe Research boosted their target price on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.00.

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.