Lombard Odier Asset Management USA Corp Acquires Shares of 34,000 CVS Health Co. (NYSE:CVS)

Lombard Odier Asset Management USA Corp acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,000 shares of the pharmacy operator’s stock, valued at approximately $2,008,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the fourth quarter valued at approximately $32,000. First Community Trust NA raised its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $34,000. Steph & Co. raised its holdings in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC raised its holdings in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $57.51 on Monday. 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 simple moving average of $58.31 and a 200-day simple moving average of $62.44. 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.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.63%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVS. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company increased their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Monday, September 16th. Evercore ISI reduced 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

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.