Morningstar Investment Management LLC Buys Shares of 3,279 CVS Health Co. (NYSE:CVS)

Morningstar Investment Management LLC bought a new stake in CVS Health Co. (NYSE:CVS – Get Rating) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,279 shares of the pharmacy operator’s stock, valued at approximately $306,000.

Other institutional investors also recently modified their holdings of the company. VitalStone Financial LLC acquired a new stake in CVS Health in the 4th quarter valued at $28,000. Godsey & Gibb Inc. bought a new position in CVS Health in the 4th quarter valued at $28,000. Castleview Partners LLC raised its position in CVS Health by 227.8% in the 4th quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 221 shares during the last quarter. Mendota Financial Group LLC bought a new position in CVS Health in the 4th quarter valued at $31,000. Finally, EWG Elevate Inc. bought a new position in CVS Health in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 77.29% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Raymond James cut their price objective on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. 92 Resources restated a “maintains” rating on shares of CVS Health in a research report on Monday, May 8th. Barclays dropped their price objective on CVS Health from $100.00 to $90.00 in a report on Thursday, May 4th. Jefferies Financial Group boosted their target price on CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Finally, Sanford C. Bernstein decreased their target price on CVS Health from $107.00 to $93.00 in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.75.

CVS Health Trading Down 0.8 %

NYSE:CVS traded down $0.53 during trading hours on Friday, hitting $67.14. 2,828,791 shares of the company were exchanged, compared to its average volume of 8,903,701. The stock has a market capitalization of $86.08 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79. CVS Health Co. has a one year low of $66.61 and a one year high of $107.26. The company has a fifty day simple moving average of $72.74 and a 200 day simple moving average of $84.92.

CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The pharmacy operator reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.13. CVS Health had a return on equity of 15.75% and a net margin of 1.20%. The firm had revenue of $85.28 billion during the quarter, compared to analyst estimates of $80.67 billion. During the same period last year, the company posted $2.22 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 8.63 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Friday, April 21st were paid a $0.605 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.60%. CVS Health’s dividend payout ratio is presently 79.87%.

Insider Activity

In other news, CEO Karen S. Lynch bought 14,000 shares of CVS Health stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average cost of $69.75 per share, for a total transaction of $976,500.00. Following the purchase, the chief executive officer now directly owns 431,392 shares in the company, valued at approximately $30,089,592. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

CVS Health Company Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.