CVS Health Corp (NYSE:CVS) Stock Position Lifted by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC lifted its holdings in CVS Health Corp (NYSE:CVS) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,000 shares of the pharmacy operator’s stock after purchasing an additional 25,000 shares during the quarter. CVS Health accounts for approximately 2.3% of Bright Rock Capital Management LLC’s holdings, making the stock its 15th largest position. Bright Rock Capital Management LLC’s holdings in CVS Health were worth $7,193,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Buckingham Capital Management Inc. lifted its holdings in shares of CVS Health by 9.1% in the 4th quarter. Buckingham Capital Management Inc. now owns 6,263 shares of the pharmacy operator’s stock worth $410,000 after acquiring an additional 524 shares during the last quarter. Halbert Hargrove Russell LLC lifted its holdings in shares of CVS Health by 10.0% in the 4th quarter. Halbert Hargrove Russell LLC now owns 3,331 shares of the pharmacy operator’s stock worth $218,000 after acquiring an additional 302 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of CVS Health by 23.9% in the 4th quarter. Clearstead Advisors LLC now owns 16,220 shares of the pharmacy operator’s stock worth $1,063,000 after acquiring an additional 3,134 shares during the last quarter. Garrison Point Advisors LLC bought a new stake in shares of CVS Health in the 4th quarter worth about $616,000. Finally, Stephens Inc. AR lifted its holdings in shares of CVS Health by 16.9% in the 4th quarter. Stephens Inc. AR now owns 97,176 shares of the pharmacy operator’s stock worth $6,367,000 after acquiring an additional 14,061 shares during the last quarter. 77.33% of the stock is owned by institutional investors.

CVS traded up $0.79 on Tuesday, reaching $56.27. 6,761,696 shares of the company traded hands, compared to its average volume of 11,467,268. CVS Health Corp has a one year low of $51.72 and a one year high of $82.15. The firm has a fifty day moving average price of $55.04. The firm has a market capitalization of $72.67 billion, a P/E ratio of 7.95, a P/E/G ratio of 1.26 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business had revenue of $61.65 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. Equities research analysts expect that CVS Health Corp will post 6.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. CVS Health’s dividend payout ratio is currently 28.25%.

Several equities research analysts have recently issued reports on the stock. CIBC restated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. BMO Capital Markets set a $66.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a report on Friday, May 3rd. Standpoint Research upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $76.48.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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