CVS Health Co. (NYSE:CVS) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,601 shares of the pharmacy operator’s stock after buying an additional 8,261 shares during the period. Intech Investment Management LLC’s holdings in CVS Health were worth $3,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC raised its position in CVS Health by 48.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after purchasing an additional 2,653 shares during the period. TCW Group Inc. purchased a new stake in CVS Health in the fourth quarter valued at $1,605,000. Congress Wealth Management LLC DE raised its position in CVS Health by 126.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock valued at $539,000 after purchasing an additional 3,806 shares during the period. Johnson Financial Group Inc. raised its position in CVS Health by 96.6% in the fourth quarter. Johnson Financial Group Inc. now owns 6,994 shares of the pharmacy operator’s stock valued at $552,000 after purchasing an additional 3,437 shares during the period. Finally, Glassman Wealth Services raised its position in CVS Health by 9.1% in the fourth quarter. Glassman Wealth Services now owns 4,232 shares of the pharmacy operator’s stock valued at $334,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVS. JPMorgan Chase & Co. cut their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays cut their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Down 1.5 %

Shares of NYSE CVS opened at $57.51 on Monday. The stock has a market cap of $72.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The business has a 50-day moving average price of $58.31 and a 200 day moving average price of $62.44.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. Equities research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.63%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

CVS Health 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.