OLD National Bancorp IN Boosts Holdings in CVS Health Co. (NYSE:CVS)

OLD National Bancorp IN lifted its stake in CVS Health Co. (NYSE:CVS) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,570 shares of the pharmacy operator’s stock after buying an additional 2,177 shares during the period. OLD National Bancorp IN’s holdings in CVS Health were worth $20,022,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC grew its position in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after buying an additional 18,385 shares during the last quarter. Value Partners Investments Inc. grew its position in CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC grew its position in CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC grew its position in CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its position in CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.02 during midday trading on Friday, hitting $69.75. The company had a trading volume of 7,809,721 shares, compared to its average volume of 8,823,763. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The business has a 50-day simple moving average of $75.29 and a two-hundred day simple moving average of $73.74. The firm has a market capitalization of $87.92 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research report on Wednesday, April 10th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

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.