GUNN & Co INVESTMENT MANAGEMENT INC. Purchases Shares of 3,118 CVS Health Co. (NYSE:CVS)

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,118 shares of the pharmacy operator’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC grew its position in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after acquiring an additional 18,385 shares in the last quarter. Value Partners Investments Inc. grew its position in CVS Health by 26.5% in the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after acquiring an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC grew its position in CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its position in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after acquiring an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its position in CVS Health by 2.6% in the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In related news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.1 %

NYSE CVS traded up $0.07 on Monday, hitting $55.97. The stock had a trading volume of 16,502,619 shares, compared to its average volume of 11,808,347. The business’s fifty day moving average price is $72.77 and its 200 day moving average price is $73.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The stock has a market cap of $70.26 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.35.

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.