Prudential PLC Takes Position in CVS Health Co. (NYSE:CVS)

Prudential PLC purchased a new stake in CVS Health Co. (NYSE:CVSGet Rating) in the fourth quarter, HoldingsChannel reports. The firm purchased 32,608 shares of the pharmacy operator’s stock, valued at approximately $3,364,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Bancorporation Inc. bought a new stake in shares of CVS Health in the fourth quarter worth $25,000. Bell Investment Advisors Inc bought a new stake in CVS Health in the 3rd quarter worth about $26,000. Capital Advisors Ltd. LLC grew its position in CVS Health by 125.7% in the 4th quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. Steph & Co. grew its position in shares of CVS Health by 138.7% during the 4th quarter. Steph & Co. now owns 358 shares of the pharmacy operator’s stock valued at $37,000 after acquiring an additional 208 shares during the period. Finally, Lowe Wealth Advisors LLC grew its position in shares of CVS Health by 35.8% during the 4th quarter. Lowe Wealth Advisors LLC now owns 383 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 101 shares during the period. Institutional investors own 78.00% of the company’s stock.

Several analysts have issued reports on CVS shares. BMO Capital Markets increased their target price on shares of CVS Health from $108.00 to $120.00 in a research note on Thursday, February 10th. Raymond James cut shares of CVS Health from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $120.00 in a research report on Friday, February 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CVS Health from $110.00 to $113.00 in a report on Thursday, May 5th. Tigress Financial lifted their price target on shares of CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. Finally, StockNews.com started coverage on shares of CVS Health in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $114.90.

In related news, EVP Prem S. Shah sold 5,346 shares of the business’s stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $104.70, for a total transaction of $559,726.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Prem S. Shah sold 4,624 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $106.65, for a total value of $493,149.60. The disclosure for this sale can be found here. Insiders have sold a total of 82,283 shares of company stock valued at $8,376,142 in the last three months. 0.69% of the stock is owned by insiders.

Shares of NYSE CVS opened at $94.02 on Thursday. The business’s 50-day simple moving average is $102.61 and its 200-day simple moving average is $101.18. CVS Health Co. has a 52 week low of $79.33 and a 52 week high of $111.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.62 and a current ratio of 0.88. The firm has a market cap of $123.29 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.56 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The business had revenue of $76.83 billion during the quarter, compared to analysts’ expectations of $75.30 billion. During the same period in the previous year, the company earned $2.04 earnings per share. CVS Health’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Friday, April 22nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.34%. CVS Health’s payout ratio is presently 36.54%.

CVS Health Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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