EverSource Wealth Advisors LLC Purchases 2,970 Shares of CVS Health Co. (NYSE:CVS)

EverSource Wealth Advisors LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 27.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,865 shares of the pharmacy operator’s stock after buying an additional 2,970 shares during the period. EverSource Wealth Advisors LLC’s holdings in CVS Health were worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. USA Financial Formulas increased its holdings in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health in the 4th quarter valued at $34,000. Steph & Co. lifted its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in CVS Health in the 4th quarter valued at $36,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Mizuho decreased their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays decreased their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Finally, The Goldman Sachs Group cut their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Performance

NYSE CVS traded down $0.71 on Friday, reaching $59.32. 8,695,521 shares of the stock were exchanged, compared to its average volume of 9,014,376. The firm has a market capitalization of $74.47 billion, a PE ratio of 10.43, a PEG ratio of 0.57 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company’s 50-day simple moving average is $59.27 and its two-hundred day simple moving average is $66.79.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. Analysts expect that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

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.