Dixon Mitchell Investment Counsel Inc. Has $55.37 Million Holdings in CVS Health Co. (NYSE:CVS)

Dixon Mitchell Investment Counsel Inc. grew its stake in CVS Health Co. (NYSE:CVS) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 694,255 shares of the pharmacy operator’s stock after buying an additional 11,402 shares during the quarter. CVS Health accounts for about 2.8% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 14th biggest holding. Dixon Mitchell Investment Counsel Inc. owned about 0.06% of CVS Health worth $55,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Norges Bank acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $1,092,040,000. Capital International Investors boosted its holdings in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. Junto Capital Management LP acquired a new position in CVS Health during the fourth quarter worth $111,209,000. Finally, International Assets Investment Management LLC boosted its holdings in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock traded down $0.63 during trading hours on Tuesday, reaching $57.52. 6,871,861 shares of the stock were exchanged, compared to its average volume of 12,034,619. The company has a market cap of $72.21 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a 50 day moving average of $59.34 and a two-hundred day moving average of $70.02.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. Equities analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health 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 purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CVS. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Mizuho cut their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Robert W. Baird initiated coverage on shares of CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. SVB Leerink reiterated a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Finally, Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $75.05.

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.