Eagle Wealth Strategies LLC Buys Shares of 7,531 CVS Health Co. (NYSE:CVS)

Eagle Wealth Strategies LLC acquired a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,531 shares of the pharmacy operator’s stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. FMR LLC grew its position in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC grew its position in CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares during the last quarter. Canada Pension Plan Investment Board grew its position in CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares during the last quarter. Pacer Advisors Inc. grew its position in CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after purchasing an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in CVS Health during the 3rd quarter worth approximately $34,379,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CVS. Piper Sandler boosted their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. SVB Leerink began coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Wells Fargo & Company decreased their price objective 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. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Up 0.1 %

Shares of CVS Health stock opened at $67.28 on Monday. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The firm has a market cap of $84.81 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $74.42 and a 200-day simple moving average of $73.67.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 EPS. On average, equities analysts forecast that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is 41.18%.

About CVS Health

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.