Oppenheimer Asset Management Inc. Buys 204,718 Shares of CVS Health Co. (NYSE:CVS)

Oppenheimer Asset Management Inc. lifted its position in CVS Health Co. (NYSE:CVS) by 93.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 424,038 shares of the pharmacy operator’s stock after buying an additional 204,718 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CVS Health were worth $25,044,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVS. Wedmont Private Capital boosted its holdings in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 146 shares in the last quarter. Moody National Bank Trust Division grew its position in CVS Health by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after purchasing an additional 150 shares during the last quarter. Landmark Financial Advisors LLC increased its stake in CVS Health by 3.8% during the 4th quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after purchasing an additional 153 shares in the last quarter. Garland Capital Management Inc. raised its holdings in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after buying an additional 160 shares during the last quarter. Finally, Sepio Capital LP lifted its stake in shares of CVS Health by 1.7% during the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock worth $782,000 after buying an additional 163 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lifted their price target 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. Robert W. Baird assumed coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Finally, Evercore ISI decreased their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Up 0.8 %

Shares of NYSE CVS opened at $57.98 on Friday. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company’s 50-day simple moving average is $58.28 and its 200-day simple moving average is $63.17. The firm has a market cap of $72.94 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Equities analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. CVS Health’s payout ratio is currently 46.75%.

CVS Health Profile

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