780,670 Shares in CVS Health Co. (NYSE:CVS) Bought by M&G Plc

M&G Plc purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 780,670 shares of the pharmacy operator’s stock, valued at approximately $62,454,000. M&G Plc owned 0.06% of CVS Health at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC increased its position in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the last quarter. USA Financial Formulas increased its position in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter worth about $34,000. Finally, Steph & Co. increased its position in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.6 %

Shares of CVS stock traded down $0.34 during trading hours on Friday, reaching $59.57. 7,143,914 shares of the stock traded hands, compared to its average volume of 9,035,345. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The business has a fifty day moving average price of $58.64 and a 200 day moving average price of $68.23. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $74.78 billion, a PE ratio of 10.47, a PEG ratio of 0.57 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 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 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS. On average, equities research analysts forecast that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.47%. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

Several research analysts have recently commented on CVS shares. Wells Fargo & Company decreased their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, May 7th. SVB Leerink reissued a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and set a $66.00 target price (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Argus reduced their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and reduced their price target for the stock from $99.00 to $59.00 in a research note on Tuesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, 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 can be accessed through this hyperlink. Company 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.