LifePlan Financial LLC Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

LifePlan Financial LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,937 shares of the pharmacy operator’s stock after purchasing an additional 2,375 shares during the period. CVS Health makes up 1.2% of LifePlan Financial LLC’s holdings, making the stock its 24th largest holding. LifePlan Financial LLC’s holdings in CVS Health were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Deerfield Management Company L.P. Series C bought a new stake in shares of CVS Health during the 2nd quarter valued at about $57,584,000. Susquehanna Fundamental Investments LLC grew its stake in CVS Health by 27.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares in the last quarter. Steph & Co. increased its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Douglas Lane & Associates LLC raised its position in shares of CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after buying an additional 16,840 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of CVS Health during the 4th quarter worth $151,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.1 %

Shares of CVS Health stock opened at $62.92 on Friday. The company’s fifty day simple moving average is $58.52 and its two-hundred day simple moving average is $61.67. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $78.99 billion, a P/E ratio of 11.06, a PEG ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. Research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.23%. CVS Health’s payout ratio is 46.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Evercore ISI cut their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.40.

CVS Health 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.