Waycross Partners LLC Increases Holdings in CVS Health Co. (NYSE:CVS)

Waycross Partners LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,539 shares of the pharmacy operator’s stock after purchasing an additional 21,135 shares during the quarter. CVS Health comprises about 1.9% of Waycross Partners LLC’s portfolio, making the stock its 24th biggest position. Waycross Partners LLC’s holdings in CVS Health were worth $12,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. First Community Trust NA lifted its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at approximately $34,000. Steph & Co. increased its holdings in CVS Health by 192.0% during 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, ORG Partners LLC boosted its position in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, September 10th. Robert W. Baird began coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Up 0.8 %

CVS stock opened at $57.98 on Monday. The firm’s fifty day moving average is $58.28 and its 200 day moving average is $63.00. The firm has a market cap of $72.79 billion, a PE ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during 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%. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, research analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 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.