Norden Group LLC Purchases 4,663 Shares of CVS Health Co. (NYSE:CVS)

Norden Group LLC increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 68.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,493 shares of the pharmacy operator’s stock after buying an additional 4,663 shares during the period. Norden Group LLC’s holdings in CVS Health were worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas raised its position in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the fourth quarter worth about $32,000. First Community Trust NA lifted its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $34,000. Finally, Steph & Co. raised its holdings in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Barclays cut their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Monday, August 19th. Finally, Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.48.

CVS Health Stock Performance

NYSE CVS opened at $57.75 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company has a fifty day moving average price of $58.29 and a 200-day moving average price of $63.78. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a market cap of $72.50 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.80 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.61%. CVS Health’s dividend payout ratio is currently 46.75%.

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.