Meiji Yasuda Life Insurance Co Boosts Holdings in CVS Health Corp (NYSE:CVS)

Meiji Yasuda Life Insurance Co grew its stake in shares of CVS Health Corp (NYSE:CVS) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,007 shares of the pharmacy operator’s stock after acquiring an additional 6,890 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in CVS Health were worth $2,228,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in CVS Health by 22.0% during the fourth quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares during the last quarter. Vanguard Group Inc. grew its stake in CVS Health by 1.7% during the third quarter. Vanguard Group Inc. now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the last quarter. Vanguard Group Inc grew its stake in CVS Health by 1.7% during the third quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the last quarter. FMR LLC grew its stake in CVS Health by 4.3% during the third quarter. FMR LLC now owns 30,069,260 shares of the pharmacy operator’s stock worth $2,367,052,000 after buying an additional 1,250,473 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in CVS Health by 6,858.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after buying an additional 24,728,818 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

In related news, Director David W. Dorman bought 9,600 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the purchase, the director now owns 122,302 shares in the company, valued at approximately $6,446,538.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.51, for a total transaction of $10,732,399.68. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. Company insiders own 0.53% of the company’s stock.

CVS Health stock traded up $0.09 during mid-day trading on Friday, reaching $52.63. The company’s stock had a trading volume of 15,930,592 shares, compared to its average volume of 13,500,085. The company has a market cap of $68.34 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94. CVS Health Corp has a 12 month low of $51.77 and a 12 month high of $82.15. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. The business had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. On average, equities research analysts forecast that CVS Health Corp will post 6.79 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.

Several brokerages have weighed in on CVS. Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 price objective on shares of CVS Health in a research note on Sunday. Raymond James cut their target price on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday. Guggenheim initiated coverage on shares of CVS Health in a report on Thursday. They issued a “buy” rating and a $75.00 target price on the stock. CIBC reiterated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Finally, Oppenheimer lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and an average price target of $79.15.

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About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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