Nexus Investment Management ULC Has $29.47 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Nexus Investment Management ULC grew its holdings in CVS Health Co. (NYSE:CVS) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,935 shares of the pharmacy operator’s stock after acquiring an additional 39,643 shares during the quarter. CVS Health accounts for about 4.4% of Nexus Investment Management ULC’s investment portfolio, making the stock its 9th largest holding. Nexus Investment Management ULC’s holdings in CVS Health were worth $29,467,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. McIlrath & Eck LLC grew its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Financial Perspectives Inc grew its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. grew its holdings in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after buying an additional 437 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $62.72 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a 50 day moving average of $65.67 and a 200-day moving average of $59.53. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $79.34 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.24%. CVS Health’s payout ratio is presently 63.48%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVS shares. Robert W. Baird boosted their target price on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. UBS Group boosted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Wolfe Research upped their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.

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.