Meeder Asset Management Inc. Grows Stake in CVS Health Corp (CVS)

Meeder Asset Management Inc. raised its position in CVS Health Corp (NYSE:CVS) by 18,755.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,855 shares of the pharmacy operator’s stock after acquiring an additional 18,755 shares during the period. Meeder Asset Management Inc.’s holdings in CVS Health were worth $1,533,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVS. Jackson Grant Investment Advisers Inc. raised its stake in shares of CVS Health by 0.6% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after purchasing an additional 18 shares during the period. Elefante Mark B lifted its position in CVS Health by 0.7% during the second quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 45 shares during the last quarter. Traynor Capital Management Inc. lifted its position in CVS Health by 1.3% during the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after acquiring an additional 48 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of CVS Health by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after buying an additional 53 shares in the last quarter. Finally, Brookstone Capital Management raised its position in shares of CVS Health by 1.8% in the second quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock valued at $254,000 after buying an additional 55 shares in the last quarter. Institutional investors own 81.62% of the company’s stock.

In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. Loop Capital dropped their price target on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Morgan Stanley upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a research report on Friday, January 5th. Needham & Company LLC boosted their price objective on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. SunTrust Banks boosted their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Jefferies Group lowered their price objective on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $86.66.

Shares of CVS Health Corp (CVS) traded up $1.59 during midday trading on Thursday, hitting $79.02. 7,160,000 shares of the stock traded hands, compared to its average volume of 10,810,000. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72. The firm has a market capitalization of $80,050.00, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.38 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts forecast that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 41.32%.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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