Lee Danner & Bass Inc. Invests $3.63 Million in CVS Health Co. (NYSE:CVS)

Lee Danner & Bass Inc. acquired a new position in CVS Health Co. (NYSE:CVS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 61,529 shares of the pharmacy operator’s stock, valued at approximately $3,634,000.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of CVS Health by 11.4% in the fourth quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock worth $1,322,000 after buying an additional 1,715 shares during the period. Stonebrook Private Inc. purchased a new position in shares of CVS Health in the fourth quarter worth $241,000. Silver Oak Securities Incorporated increased its stake in shares of CVS Health by 148.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,734 shares of the pharmacy operator’s stock worth $453,000 after buying an additional 3,427 shares during the period. Mather Group LLC. increased its stake in shares of CVS Health by 36.9% in the fourth quarter. Mather Group LLC. now owns 8,085 shares of the pharmacy operator’s stock worth $638,000 after buying an additional 2,181 shares during the period. Finally, Choreo LLC increased its stake in shares of CVS Health by 95.5% in the fourth quarter. Choreo LLC now owns 13,901 shares of the pharmacy operator’s stock worth $1,098,000 after buying an additional 6,792 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.5 %

CVS Health stock traded up $0.27 during mid-day trading on Friday, reaching $57.24. The stock had a trading volume of 8,156,873 shares, compared to its average volume of 11,181,803. The company has a market capitalization of $71.86 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.57 and a beta of 0.52. The company has a 50-day moving average price of $58.59 and a two-hundred day moving average price of $64.66. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. 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 (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.65%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVS shares. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Monday, August 19th. JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho reduced their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.24.

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.