72,169 Shares in CVS Health Co. (NYSE:CVS) Bought by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 72,169 shares of the pharmacy operator’s stock, valued at approximately $4,262,000. CVS Health makes up 1.6% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the 4th quarter valued at about $32,000. Creekmur Asset Management LLC bought a new position in CVS Health in the fourth quarter valued at $34,000. Steph & Co. raised its holdings in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC bought a new position in shares of CVS Health in the 4th quarter valued at about $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $57.98 on Friday. The firm’s fifty day moving average is $58.28 and its 200 day moving average is $63.17. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a market cap of $72.94 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the company posted $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analyst Weigh In

CVS has been the topic of several research analyst reports. Evercore ISI dropped 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 report on Thursday, August 8th. Barclays cut their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.10.

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.