Sumitomo Life Insurance Co. Acquires 1,197 Shares of CVS Health Corp (NYSE:CVS)

Sumitomo Life Insurance Co. increased its holdings in CVS Health Corp (NYSE:CVS) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,349 shares of the pharmacy operator’s stock after buying an additional 1,197 shares during the period. Sumitomo Life Insurance Co.’s holdings in CVS Health were worth $1,654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Oak Asset Management LLC boosted its holdings in CVS Health by 18.3% in the 2nd quarter. Oak Asset Management LLC now owns 61,311 shares of the pharmacy operator’s stock worth $3,402,000 after buying an additional 9,484 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in CVS Health by 33.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 65,537 shares of the pharmacy operator’s stock worth $3,571,000 after buying an additional 16,243 shares during the period. Edge Capital Group LLC boosted its holdings in CVS Health by 5.2% in the 2nd quarter. Edge Capital Group LLC now owns 7,933 shares of the pharmacy operator’s stock worth $432,000 after buying an additional 393 shares during the period. Putnam FL Investment Management Co. boosted its holdings in CVS Health by 0.9% in the 2nd quarter. Putnam FL Investment Management Co. now owns 89,519 shares of the pharmacy operator’s stock valued at $4,878,000 after purchasing an additional 801 shares during the period. Finally, Edmp Inc. boosted its holdings in CVS Health by 318.3% in the 2nd quarter. Edmp Inc. now owns 62,954 shares of the pharmacy operator’s stock valued at $3,430,000 after purchasing an additional 47,904 shares during the period. 77.33% of the stock is owned by institutional investors.

Several brokerages have commented on CVS. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price target on shares of CVS Health in a report on Wednesday, May 1st. UBS Group cut their price target on shares of CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Mizuho set a $71.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, Morgan Stanley cut their price target on shares of CVS Health from $92.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.48.

Shares of NYSE CVS traded up $3.24 during mid-day trading on Wednesday, reaching $57.33. 12,064,976 shares of the company were exchanged, compared to its average volume of 7,638,115. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The stock has a market cap of $72.37 billion, a PE ratio of 8.10, a PEG ratio of 1.25 and a beta of 0.90. The stock has a 50 day moving average of $55.41.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The company had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. Equities analysts anticipate that CVS Health Corp will post 6.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Wednesday, July 24th. CVS Health’s payout ratio is 28.25%.

CVS Health Company Profile

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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