Echo Street Capital Management LLC Increases Stock Position in CVS Health Co. (NYSE:CVS)

Echo Street Capital Management LLC raised its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 287.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,142 shares of the pharmacy operator’s stock after buying an additional 12,712 shares during the period. Echo Street Capital Management LLC’s holdings in CVS Health were worth $1,735,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Macroview Investment Management LLC lifted its position in shares of CVS Health by 128.3% in the 1st quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator’s stock worth $25,000 after purchasing an additional 136 shares during the period. Claremont Financial Group Inc. purchased a new stake in shares of CVS Health in the 4th quarter worth about $26,000. Stuart Chaussee & Associates Inc. lifted its position in shares of CVS Health by 123.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 171 shares during the period. Rise Advisors LLC purchased a new stake in shares of CVS Health in the 4th quarter worth about $41,000. Finally, Carl Stuart Investment Advisor Inc. purchased a new stake in shares of CVS Health in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $102.15 on Friday. The company has a 50 day moving average price of $98.77 and a 200-day moving average price of $99.40. CVS Health Co. has a 52 week low of $81.78 and a 52 week high of $111.25. The firm has a market capitalization of $134.11 billion, a PE ratio of 16.61, a P/E/G ratio of 1.55 and a beta of 0.73. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The firm had revenue of $80.64 billion during the quarter, compared to analyst estimates of $76.38 billion. During the same period in the previous year, the business posted $2.42 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 8.54 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 22nd were paid a $0.55 dividend. The ex-dividend date was Thursday, July 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. CVS Health’s dividend payout ratio is presently 35.77%.

Insider Transactions at CVS Health

In related news, EVP Alan Lotvin sold 22,541 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Alan Lotvin sold 22,541 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the transaction, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Credit Suisse Group raised their target price on shares of CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Mizuho increased their price target on shares of CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CVS Health from $113.00 to $120.00 in a research note on Thursday, August 4th. UBS Group increased their price target on shares of CVS Health from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Sanford C. Bernstein lowered shares of CVS Health from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $122.00 to $112.00 in a research note on Thursday, May 26th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.59.

About CVS Health

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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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