CVS Health (CVS) Position Raised by M&T Bank Corp

M&T Bank Corp boosted its stake in CVS Health (NYSE:CVS) by 5.3% in the first quarter, Holdings Channel reports. The firm owned 274,798 shares of the pharmacy operator’s stock after acquiring an additional 13,811 shares during the period. M&T Bank Corp’s holdings in CVS Health were worth $17,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. grew its stake in CVS Health by 4.3% in the first quarter. GW Henssler & Associates Ltd. now owns 179,650 shares of the pharmacy operator’s stock valued at $11,176,000 after acquiring an additional 7,416 shares during the period. Thompson Investment Management Inc. grew its stake in CVS Health by 2.1% in the first quarter. Thompson Investment Management Inc. now owns 93,191 shares of the pharmacy operator’s stock valued at $5,797,000 after acquiring an additional 1,910 shares during the period. Wade G W & Inc. grew its stake in CVS Health by 1,896.0% in the first quarter. Wade G W & Inc. now owns 179,118 shares of the pharmacy operator’s stock valued at $11,143,000 after acquiring an additional 170,144 shares during the period. Lipe & Dalton grew its stake in CVS Health by 3.2% in the first quarter. Lipe & Dalton now owns 48,471 shares of the pharmacy operator’s stock valued at $3,015,000 after acquiring an additional 1,505 shares during the period. Finally, Motley Fool Asset Management LLC acquired a new position in CVS Health in the first quarter valued at about $574,000. Institutional investors and hedge funds own 83.34% of the company’s stock.

In related news, Director C David Brown II bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were acquired at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the completion of the acquisition, the director now owns 101,252 shares of the company’s stock, valued at approximately $6,276,611.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.



CVS has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Citigroup set a $77.00 target price on CVS Health and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Needham & Company LLC raised CVS Health from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $88.00 to $100.00 in a research note on Tuesday, January 30th. Finally, Bank of America decreased their target price on CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, April 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average target price of $86.27.

CVS Health opened at $65.57 on Thursday, Marketbeat Ratings reports. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. The stock has a market cap of $66.71 billion, a PE ratio of 11.11, a PEG ratio of 0.98 and a beta of 1.02. CVS Health has a fifty-two week low of $60.14 and a fifty-two week high of $84.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. equities research analysts anticipate that CVS Health will post 6.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 3rd. Investors of record on Monday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.05%. CVS Health’s payout ratio is presently 33.90%.

CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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