Norden Group LLC buys 4,663 shares of CVS Health Co. (NYSE:CVS)

Norden Group LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 68.3% in 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas grew its position in CVS Health by 573.2% in 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 in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the fourth quarter valued at about $32,000. First Community Trust NA boosted its stake in 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 about $34,000. Finally, Steph & Co. raised its holdings in CVS Health by 192.0% in the first 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 shares are currently held by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI cut 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 price target 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 target price on shares of CVS Health in a research note on Monday, August 19th. Finally, Baird RW 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. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.48, according to MarketBeat.

Read the latest inventory report on CVS

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 – Get Free Report ) 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 previous year, the firm posted EPS of $2.21. The company’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 22. This represents an annualized dividend of $2.66 and a yield of 4.61%. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Profile

(Free Report)

CVS Health Corporation provides healthcare solutions in the United States. It operates through the Health Care Benefits, Health Services, and Pharmacy & Consumer Health segments. The Healthcare Benefits segment offers traditional, voluntary and consumer-directed health insurance products and related services.

Further reading

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