Collar Capital Management LLC Buys New Shares in CVS Health Co. (NYSE:CVS)

Collar Capital Management LLC bought a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,593 shares of the pharmacy operator's stock, valued at approximately $520,000.

A number of other hedge funds have also made changes to their positions in CVS. Dodge & Cox lifted its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Capital World Investors lifted its position in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the last quarter. Geode Capital Management LLC grew its position in shares of CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after buying an additional 689,867 shares during the last quarter. Capital International Investors raised its stake in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Mizuho lifted their price target on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.81.

CVS Health Stock Down 1.3 %

Shares of CVS stock traded down $0.87 on Friday, reaching $66.98. 6,356,260 shares of the company's stock traded hands, compared to its average volume of 11,403,578. The business's 50 day moving average price is $66.96 and its two-hundred day moving average price is $59.03. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a market capitalization of $84.45 billion, a P/E ratio of 18.30, 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 quick ratio of 0.60 and a current ratio of 0.81.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.97%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insider Activity at CVS Health

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