IFG Advisory LLC increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,093 shares of the pharmacy operator’s stock after acquiring an additional 1,278 shares during the quarter. IFG Advisory LLC’s holdings in CVS Health were worth $1,530,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CVS. Bay Harbor Wealth Management LLC boosted its holdings in CVS Health by 1,871.4% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 524 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 1,387 shares during the last quarter. Manchester Financial Inc. acquired a new position in CVS Health in the 2nd quarter valued at about $31,000. Hudock Capital Group LLC boosted its holdings in CVS Health by 54.0% in the 2nd quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 202 shares during the last quarter. Finally, Executive Wealth Management LLC boosted its holdings in CVS Health by 62.4% in the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.
CVS has been the topic of several recent analyst reports. Mizuho set a $71.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price target on shares of CVS Health in a research note on Wednesday, May 1st. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. UBS Group reduced their price target on shares of CVS Health from $74.00 to $67.00 and set a “sell” rating on the stock in a research note on Thursday, May 2nd. Finally, Credit Suisse Group downgraded shares of CVS Health from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $73.00 to $61.00 in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $75.14.
CVS traded down $0.93 during trading hours on Friday, hitting $61.12. 173,504 shares of the company’s stock were exchanged, compared to its average volume of 9,224,633. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15. The firm has a 50 day moving average of $57.21 and a 200 day moving average of $56.35. The firm has a market cap of $80.06 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same period in the prior year, the firm earned $1.69 EPS. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, research analysts expect that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.27%. The ex-dividend date was Wednesday, July 24th. CVS Health’s payout ratio is currently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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