CVS Health Co. (NYSE:CVS) Shares Sold by Sachem Head Capital Management LP

Sachem Head Capital Management LP lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 625,000 shares of the pharmacy operator's stock after selling 2,895,000 shares during the period. CVS Health makes up about 1.5% of Sachem Head Capital Management LP's investment portfolio, making the stock its 14th biggest position. Sachem Head Capital Management LP's holdings in CVS Health were worth $28,056,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health 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 transaction, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Truist Financial lifted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Price Performance

Shares of CVS stock opened at $62.51 on Friday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The firm has a market capitalization of $79.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60. 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 firm's 50 day moving average is $66.57 and its 200-day moving average is $59.20.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal 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 paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.26%. CVS Health's payout ratio is currently 63.48%.

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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