Black Maple Capital Management LP Makes New Investment in CVS Health Co. (NYSE:CVS)

Black Maple Capital Management LP purchased a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,000 shares of the pharmacy operator's stock, valued at approximately $584,000.

A number of other hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in shares of CVS Health by 9.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,321,493 shares of the pharmacy operator's stock worth $328,554,000 after purchasing an additional 639,325 shares in the last quarter. Aspire Growth Partners LLC acquired a new stake in CVS Health during the fourth quarter worth about $242,000. Ariel Investments LLC increased its holdings in CVS Health by 50.6% in the 4th quarter. Ariel Investments LLC now owns 928,626 shares of the pharmacy operator's stock valued at $41,686,000 after buying an additional 311,819 shares during the period. AXA S.A. lifted its holdings in shares of CVS Health by 46.1% during the 4th quarter. AXA S.A. now owns 1,070,959 shares of the pharmacy operator's stock worth $48,075,000 after acquiring an additional 337,738 shares during the period. Finally, Accredited Wealth Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $155,000. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was 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 directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.22% of the company's stock.

Analyst Ratings Changes

CVS has been the subject of several recent analyst reports. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Wolfe Research boosted their target price on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Robert W. Baird lifted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Finally, UBS Group increased their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus target price of $72.69.

CVS Health Trading Down 2.8 %

NYSE:CVS opened at $67.49 on Friday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm's fifty day moving average is $66.72 and its 200-day moving average is $58.83. The firm has a market cap of $85.09 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

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.

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