E Fund Management Co. Ltd. Increases Position in CVS Health Co. (NYSE:CVS)

E Fund Management Co. Ltd. raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,658 shares of the pharmacy operator’s stock after buying an additional 313 shares during the period. E Fund Management Co. Ltd.’s holdings in CVS Health were worth $289,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVS. Bryn Mawr Capital Management LLC boosted its holdings in shares of CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after purchasing an additional 18,385 shares during the period. Sonora Investment Management Group LLC lifted its holdings in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares during the period. Checchi Capital Advisers LLC lifted its holdings in CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after buying an additional 233 shares during the period. Personal CFO Solutions LLC lifted its holdings in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after buying an additional 491 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC purchased a new stake in CVS Health during the fourth quarter worth $218,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.76 during trading on Thursday, reaching $55.67. 10,298,162 shares of the company’s stock traded hands, compared to its average volume of 11,874,933. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The firm has a market cap of $69.89 billion, a PE ratio of 9.79, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a 50-day simple moving average of $71.54 and a 200-day simple moving average of $72.96.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts predict that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVS shares. Argus lowered their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho reduced their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research report on Tuesday. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.75.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was 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 disclosure for this sale can be found here. 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.