Sanctuary Advisors LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Sanctuary Advisors LLC bought a new stake in CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 135,546 shares of the pharmacy operator’s stock, valued at approximately $8,005,000.

A number of other hedge funds have also recently made changes to their positions in the company. Wedmont Private Capital boosted its position in CVS Health by 0.8% during the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 146 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of CVS Health by 0.7% during the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after purchasing an additional 150 shares during the period. Garland Capital Management Inc. grew its stake in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares during the last quarter. Silverlake Wealth Management LLC increased its holdings in CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after purchasing an additional 173 shares during the period. Finally, Plimoth Trust Co. LLC raised its position in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Evercore ISI lowered their target price 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. Finally, Wells Fargo & Company increased their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Performance

CVS opened at $62.92 on Friday. The company has a market cap of $78.99 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.81 and a beta of 0.54. The company’s fifty day moving average price is $58.52 and its two-hundred day moving average price is $61.67. CVS Health Co. has a 1-year low of $52.77 and a 1-year 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.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. On average, analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.