Koss Olinger Consulting LLC Takes Position in CVS Health Co. (NYSE:CVS)

Koss Olinger Consulting LLC purchased a new stake in CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,025 shares of the pharmacy operator’s stock, valued at approximately $2,187,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas raised its position in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the 4th quarter worth $32,000. First Community Trust NA raised its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth $34,000. Finally, Steph & Co. increased its position in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 0.6 %

Shares of NYSE:CVS opened at $57.75 on Friday. The business’s 50-day moving average is $58.29 and its 200-day moving average is $63.78. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $72.50 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted 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 firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. Equities research analysts predict that CVS Health Co. will post 6.52 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.61%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CVS shares. JPMorgan Chase & Co. decreased their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird assumed coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.48.

CVS Health Company 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.