Hudson Edge Investment Partners Inc. Has $4.78 Million Stake in CVS Health Co. (NYSE:CVS)

Hudson Edge Investment Partners Inc. increased its stake in CVS Health Co. (NYSE:CVS) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,985 shares of the pharmacy operator’s stock after purchasing an additional 3,316 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in CVS Health were worth $4,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. USA Financial Formulas boosted its holdings in 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 purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health during the 4th quarter worth about $32,000. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. raised its holdings in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday. Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of 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, Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.48.

CVS Health Price Performance

Shares of NYSE:CVS traded down $0.32 during midday trading on Friday, hitting $57.75. The stock had a trading volume of 6,263,025 shares, compared to its average volume of 11,149,185. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $72.50 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company’s 50-day moving average price is $58.29 and its 200-day moving average price is $63.78. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last released its 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 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 analysts’ expectations of $91.41 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities 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 issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 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.