Fernwood Investment Management LLC Acquires 1,047 Shares of CVS Health Corp (NYSE:CVS)

Fernwood Investment Management LLC increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 50,140 shares of the pharmacy operator’s stock after buying an additional 1,047 shares during the period. CVS Health comprises 1.5% of Fernwood Investment Management LLC’s portfolio, making the stock its 14th biggest holding. Fernwood Investment Management LLC’s holdings in CVS Health were worth $2,732,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVS. Norges Bank bought a new position in shares of CVS Health during the fourth quarter valued at $840,254,000. FMR LLC lifted its holdings in shares of CVS Health by 30.6% during the fourth quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after purchasing an additional 9,194,005 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CVS Health by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after purchasing an additional 4,376,604 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CVS Health by 28.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after purchasing an additional 3,041,266 shares in the last quarter. Finally, Ellis Investment Partners LLC lifted its holdings in shares of CVS Health by 5,752.4% during the first quarter. Ellis Investment Partners LLC now owns 1,858,328 shares of the pharmacy operator’s stock valued at $1,858,000 after purchasing an additional 1,826,575 shares in the last quarter. 77.18% of the stock is currently owned by hedge funds and other institutional investors.

CVS traded down $0.12 during midday trading on Thursday, reaching $58.44. The company had a trading volume of 337,476 shares, compared to its average volume of 8,160,261. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $56.23. The firm has a market capitalization of $76.38 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.29 and a beta of 0.90. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15.

CVS Health (NYSE:CVS) last issued its quarterly 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 business had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. Research analysts forecast that CVS Health Corp will post 6.96 EPS for the current fiscal year.

The business also recently declared 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 yield of 3.42%. The ex-dividend date was Wednesday, July 24th. CVS Health’s payout ratio is 28.25%.

A number of brokerages have recently issued reports on CVS. ValuEngine downgraded CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. BMO Capital Markets set a $63.00 price target on CVS Health and gave the company a “hold” rating in a report on Friday, May 3rd. Evercore ISI set a $63.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Credit Suisse Group cut CVS Health from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $73.00 to $61.00 in a research report on Monday, April 29th. Finally, UBS Group reduced their price objective on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $75.14.

CVS Health 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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