Collar Capital Management LLC Makes New $520,000 Investment in CVS Health Co. (NYSE:CVS)

Collar Capital Management LLC bought a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,593 shares of the pharmacy operator's stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Principal Financial Group Inc. increased its position in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after acquiring an additional 66,244 shares in the last quarter. InvesTrust acquired a new position in shares of CVS Health in the 4th quarter worth approximately $1,823,000. Watts Gwilliam & Co. LLC raised its holdings in CVS Health by 9.8% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,302 shares of the pharmacy operator's stock worth $334,000 after buying an additional 650 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of CVS Health by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator's stock worth $7,795,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

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 value of $498,487.55. Following the completion of 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 SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company's stock, valued at $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. Insiders own 1.22% of the company's stock.

CVS Health Trading Down 5.2%

Shares of NYSE CVS traded down $3.46 during midday trading on Monday, hitting $63.51. The stock had a trading volume of 10,523,580 shares, compared to its average volume of 11,410,496. The company's 50-day simple moving average is $66.96 and its 200 day simple moving average is $59.06. The firm has a market cap of $80.34 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (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 the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. Research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid 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 4.19%. CVS Health's payout ratio is presently 63.48%.

Analyst Ratings Changes

Several equities analysts recently commented on CVS shares. Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Royal Bank of Canada lifted their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. 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 stock. According to MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $74.81.

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.