HBW Advisory Services LLC Acquires New Shares in CVS Health Corp (NYSE:CVS)

HBW Advisory Services LLC acquired a new stake in shares of CVS Health Corp (NYSE:CVS) during the second quarter, according to its most recent filing with the SEC. The fund acquired 5,133 shares of the pharmacy operator’s stock, valued at approximately $333,000.

Several other large investors also recently added to or reduced their stakes in CVS. Bluefin Trading LLC bought a new position in CVS Health in the 4th quarter worth about $3,720,000. Stoneridge Investment Partners LLC increased its stake in CVS Health by 33.8% in the 1st quarter. Stoneridge Investment Partners LLC now owns 77,805 shares of the pharmacy operator’s stock worth $4,616,000 after acquiring an additional 19,647 shares during the last quarter. State of Alaska Department of Revenue increased its stake in CVS Health by 17.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 268,896 shares of the pharmacy operator’s stock worth $17,469,000 after acquiring an additional 40,759 shares during the last quarter. Artemis Investment Management LLP increased its stake in CVS Health by 10.3% in the 1st quarter. Artemis Investment Management LLP now owns 895,029 shares of the pharmacy operator’s stock worth $53,216,000 after acquiring an additional 83,635 shares during the last quarter. Finally, AJO LP increased its stake in CVS Health by 3,245.8% in the 1st quarter. AJO LP now owns 1,370,762 shares of the pharmacy operator’s stock worth $81,326,000 after acquiring an additional 1,329,792 shares during the last quarter. Institutional investors own 76.09% of the company’s stock.

In other news, EVP Alan Lotvin bought 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now owns 15,161 shares of the company’s stock, valued at $957,265.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James David Clark sold 6,234 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total value of $405,210.00. Following the completion of the transaction, the senior vice president now directly owns 4,817 shares of the company’s stock, valued at approximately $313,105. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

A number of equities analysts have weighed in on CVS shares. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 30th. Robert W. Baird upped their price objective on CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. SVB Leerink began coverage on CVS Health in a report on Wednesday, July 1st. They issued a “market perform” rating and a $72.00 price objective for the company. SunTrust Banks cut their price objective on CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $77.00 price objective on shares of CVS Health in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.35.

NYSE CVS opened at $63.14 on Thursday. CVS Health Corp has a fifty-two week low of $52.04 and a fifty-two week high of $77.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.70 and a current ratio of 0.99. The stock has a 50 day simple moving average of $65.02 and a two-hundred day simple moving average of $65.65. The stock has a market cap of $83.55 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.28. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The business had revenue of $66.76 billion during the quarter, compared to analysts’ expectations of $64.11 billion. During the same quarter last year, the business posted $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that CVS Health Corp will post 7.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.17%. CVS Health’s dividend payout ratio (DPR) 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.

Further Reading: Cost of Capital Explained

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

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