Vivaldi Capital Management LP Acquires New Holdings in CVS Health Co. (NYSE:CVS)

Vivaldi Capital Management LP purchased a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 157,000 shares of the pharmacy operator's stock, valued at approximately $7,048,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Coppell Advisory Solutions LLC grew its stake in CVS Health by 17.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock worth $56,000 after buying an additional 189 shares during the last quarter. EagleClaw Capital Managment LLC raised its stake in shares of CVS Health by 3.4% during the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock valued at $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC grew its holdings in CVS Health by 3.7% during the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock worth $256,000 after acquiring an additional 204 shares during the period. Finally, Rogco LP raised its position in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after acquiring an additional 210 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Barclays lifted their target price on CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

CVS Health Stock Down 3.1%

Shares of CVS Health stock traded down $1.95 during trading hours on Thursday, hitting $60.16. 10,041,157 shares of the company's stock traded hands, compared to its average volume of 11,371,746. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a market cap of $76.10 billion, a PE ratio of 16.44, a PEG ratio of 0.98 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $66.41 and a 200-day simple moving average of $59.34.

CVS Health (NYSE:CVS - Get Free Report) last announced 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. 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 analyst estimates of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.42%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.22% of the company's stock.

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.