OLD National Bancorp IN Grows Position in CVS Health Co. (NYSE:CVS)

OLD National Bancorp IN raised its stake in shares of CVS Health Co. (NYSE:CVS) by 20.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 297,713 shares of the pharmacy operator’s stock after purchasing an additional 49,753 shares during the period. OLD National Bancorp IN’s holdings in CVS Health were worth $20,170,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC boosted its position in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares during the period. Financial Perspectives Inc boosted its position in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. boosted its position in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after purchasing an additional 437 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

CVS Health Price Performance

CVS Health stock opened at $63.61 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average is $65.21 and its 200 day moving average is $59.92. The company has a market cap of $80.47 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the prior year, the company earned $1.31 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

CVS Health Company 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.