Kovack Advisors Inc. Buys New Holdings in CVS Health (NYSE:CVS)

Kovack Advisors Inc. purchased a new position in CVS Health (NYSE:CVS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,182 shares of the pharmacy operator’s stock, valued at approximately $1,028,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CVS. FMR LLC grew its stake in CVS Health by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Truepoint Inc. grew its stake in CVS Health by 8,578.9% during the 3rd quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock valued at $3,758,000 after acquiring an additional 3,714,235 shares in the last quarter. Ameriprise Financial Inc. grew its stake in CVS Health by 30.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after acquiring an additional 1,849,593 shares in the last quarter. APG Asset Management N.V. grew its stake in CVS Health by 43.1% during the 4th quarter. APG Asset Management N.V. now owns 6,023,527 shares of the pharmacy operator’s stock valued at $363,679,000 after acquiring an additional 1,813,500 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in CVS Health by 71.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after acquiring an additional 1,647,168 shares in the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at approximately $4,622,714.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

Shares of NYSE CVS traded down $1.28 during trading hours on Friday, hitting $63.38. The stock had a trading volume of 5,114,814 shares, compared to its average volume of 7,846,283. The stock has a market cap of $64,301.04, a price-to-earnings ratio of 10.74, a PEG ratio of 1.05 and a beta of 1.05. CVS Health has a 52 week low of $60.14 and a 52 week high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. analysts predict that CVS Health will post 6.33 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.16%. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.

CVS has been the topic of several research analyst reports. Raymond James Financial raised CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a research note on Thursday, January 4th. They noted that the move was a valuation call. Morgan Stanley raised CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 target price on the stock in a research note on Friday, January 5th. Mizuho set a $95.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Needham & Company LLC lifted their target price on CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price on the stock. in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $86.81.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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