Lynx Investment Advisory Makes New $203,000 Investment in CVS Health Co. (NYSE:CVS)

Lynx Investment Advisory purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,437 shares of the pharmacy operator’s stock, valued at approximately $203,000.

A number of other institutional investors also recently added to or reduced their stakes in CVS. USA Financial Formulas boosted its position in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the 4th quarter worth $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in shares of 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 buying an additional 288 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of CVS Health in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 0.8 %

CVS Health stock traded up $0.47 during mid-day trading on Tuesday, hitting $58.28. The company’s stock had a trading volume of 11,459,905 shares, compared to its average volume of 11,544,289. The firm’s 50 day moving average is $59.32 and its 200 day moving average is $66.61. The company has a market cap of $73.16 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. 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 Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research analyst reports. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Mizuho cut their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays cut their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.55.

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.