MCF Advisors LLC Acquires 673 Shares of CVS Health Co. (NYSE:CVS)

MCF Advisors LLC lifted its holdings in shares of CVS Health Co. (NYSE:CVS) by 29.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,981 shares of the pharmacy operator’s stock after buying an additional 673 shares during the period. MCF Advisors LLC’s holdings in CVS Health were worth $176,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Canoe Financial LP raised its holdings in shares of CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after purchasing an additional 859,134 shares during the last quarter. Steph & Co. raised its stake in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 2,901 shares during the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after acquiring an additional 16,840 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in CVS Health during the fourth quarter valued at $151,000. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CVS. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.48.

CVS Health Stock Performance

NYSE CVS opened at $58.06 on Friday. The stock has a market capitalization of $72.89 billion, a PE ratio of 10.20, a P/E/G ratio of 0.80 and a beta of 0.52. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The business has a 50 day simple moving average of $58.32 and a two-hundred day simple moving average of $64.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

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, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.58%. CVS Health’s dividend payout ratio is currently 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.