CVS Health Co. (NYSE:CVS) Shares Bought by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC raised its holdings in CVS Health Co. (NYSE:CVS) by 27.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,639 shares of the pharmacy operator’s stock after acquiring an additional 4,826 shares during the period. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVS. Riverpoint Wealth Management Holdings LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $218,000. Canoe Financial LP grew its stake in shares of CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after purchasing an additional 859,134 shares in the last quarter. Meritage Portfolio Management lifted its position in CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock valued at $5,237,000 after acquiring an additional 15,548 shares during the last quarter. Steph & Co. lifted its position in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research reports. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Bank of America cut their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Finally, UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.55.

CVS Health Trading Down 2.6 %

Shares of CVS stock traded down $1.55 during mid-day trading on Monday, reaching $57.77. The company’s stock had a trading volume of 3,581,385 shares, compared to its average volume of 11,504,123. The company’s 50 day simple moving average is $59.27 and its 200-day simple moving average is $66.72. The firm has a market capitalization of $72.52 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

About CVS Health

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.