BerganKDV Wealth Management LLC lifted its holdings in shares of CVS Health (NYSE:CVS) by 31.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,186 shares of the pharmacy operator’s stock after acquiring an additional 2,914 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in CVS Health were worth $758,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Trexquant Investment LP increased its holdings in CVS Health by 771.1% in the first quarter. Trexquant Investment LP now owns 85,295 shares of the pharmacy operator’s stock valued at $5,306,000 after buying an additional 75,503 shares during the last quarter. Zions Bancorporation bought a new stake in CVS Health in the first quarter valued at about $182,000. Intersect Capital LLC increased its holdings in CVS Health by 26.7% in the first quarter. Intersect Capital LLC now owns 10,517 shares of the pharmacy operator’s stock valued at $654,000 after buying an additional 2,218 shares during the last quarter. Concentric Wealth Management LLC increased its holdings in CVS Health by 3.2% in the first quarter. Concentric Wealth Management LLC now owns 26,543 shares of the pharmacy operator’s stock valued at $1,651,000 after buying an additional 825 shares during the last quarter. Finally, Bedel Financial Consulting Inc. bought a new stake in CVS Health in the first quarter valued at about $125,000. 83.96% of the stock is currently owned by institutional investors and hedge funds.
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CVS Health opened at $64.92 on Friday, MarketBeat Ratings reports. The company has a market cap of $66.85 billion, a PE ratio of 11.00, a P/E/G ratio of 0.98 and a beta of 1.02. CVS Health has a 52 week low of $60.14 and a 52 week high of $84.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The company had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. equities research analysts anticipate that CVS Health will post 6.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd were given a dividend of $0.50 per share. The ex-dividend date was Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. CVS Health’s dividend payout ratio is presently 33.90%.
Several analysts recently weighed in on CVS shares. Bank of America lowered their price objective on CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, April 11th. Leerink Swann set a $85.00 price objective on CVS Health and gave the company a “buy” rating in a report on Tuesday, April 10th. Needham & Company LLC set a $98.00 price objective on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada set a $89.00 price objective on CVS Health and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Mizuho set a $95.00 price objective on CVS Health and gave the company a “buy” rating in a report on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and an average price target of $86.27.
In other CVS Health news, Director C David Brown II acquired 10,000 shares of CVS Health stock in a transaction dated Friday, May 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction of $619,900.00. Following the completion of the transaction, the director now owns 101,252 shares in the company, valued at approximately $6,276,611.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.