Boothbay Fund Management LLC Purchases Shares of 6,688 CVS Health Co. (NYSE:CVS)

Boothbay Fund Management LLC purchased a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,688 shares of the pharmacy operator's stock, valued at approximately $300,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. World Investment Advisors LLC boosted its position in shares of CVS Health by 280.7% in the 3rd quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator's stock valued at $1,732,000 after purchasing an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVS Health in the third quarter valued at approximately $2,071,000. Tidal Investments LLC grew its position in shares of CVS Health by 52.2% during the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator's stock worth $7,043,000 after acquiring an additional 38,408 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock valued at $90,200,000 after acquiring an additional 66,244 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in CVS Health by 3.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 34,257 shares of the pharmacy operator's stock valued at $1,538,000 after purchasing an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a report on Friday, April 11th. Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.81.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of CVS stock traded down $0.79 during midday trading on Tuesday, reaching $66.32. 6,984,481 shares of the company traded hands, compared to its average volume of 11,487,462. The firm has a market cap of $83.61 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm's 50 day simple moving average is $66.79 and its two-hundred day simple moving average is $58.81. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51.

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

CVS Health Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.01%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

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.