BXM Wealth LLC Buys Shares of 6,973 CVS Health Co. (NYSE:CVS)

BXM Wealth LLC bought a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, Holdings Channel reports. The fund bought 6,973 shares of the pharmacy operator’s stock, valued at approximately $313,000.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC grew its position in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after buying an additional 10,465 shares during the last quarter. Cullinan Associates Inc. grew its position in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after buying an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its position in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. UBS Group dropped their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Stock Performance

CVS opened at $65.71 on Friday. The stock has a market cap of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. The firm has a fifty day moving average price of $50.90 and a 200 day moving average price of $56.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Equities research analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is presently 67.51%.

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.