Orbimed Advisors LLC bought a new position in shares of CVS Health Corp (NYSE:CVS) during the 4th quarter, HoldingsChannel reports. The firm bought 793,800 shares of the pharmacy operator’s stock, valued at approximately $52,010,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in CVS Health by 22.0% during the fourth quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares during the period. Vanguard Group Inc. increased its stake in CVS Health by 1.7% during the third quarter. Vanguard Group Inc. now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after acquiring an additional 1,445,887 shares during the last quarter. Vanguard Group Inc increased its stake in CVS Health by 1.7% during the third quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after acquiring an additional 1,445,887 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in CVS Health by 6,858.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after acquiring an additional 24,728,818 shares during the last quarter. Finally, Northern Trust Corp increased its stake in CVS Health by 24.6% during the fourth quarter. Northern Trust Corp now owns 17,939,831 shares of the pharmacy operator’s stock worth $1,175,418,000 after acquiring an additional 3,543,504 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

CVS stock opened at $54.22 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. CVS Health Corp has a 1 year low of $51.77 and a 1 year high of $82.15. The stock has a market capitalization of $68.57 billion, a PE ratio of 7.50, a P/E/G ratio of 1.04 and a beta of 0.94.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion during the quarter, compared to analyst estimates of $53.78 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corp will post 6.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.69%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.

In other news, insider Larry J. Merlo sold 166,368 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.51, for a total value of $10,732,399.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David W. Dorman bought 9,600 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $52.71 per share, with a total value of $506,016.00. Following the purchase, the director now owns 122,302 shares of the company’s stock, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. In the last quarter, insiders bought 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. 0.53% of the stock is currently owned by company insiders.

Several equities research analysts have commented on the company. Barclays assumed coverage on CVS Health in a research note on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price target for the company. Wells Fargo & Co lowered CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $104.00 to $68.00 in a research note on Wednesday, February 20th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. Cantor Fitzgerald restated a “buy” rating and set a $96.00 price target on shares of CVS Health in a research note on Thursday, January 3rd. Finally, Bank of America restated a “buy” rating and set a $92.00 price target on shares of CVS Health in a research note on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.61.

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CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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