Novem Group Takes Position in CVS Health Co. (NYSE:CVS)

Novem Group purchased a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,522 shares of the pharmacy operator's stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC increased its position in shares of CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after acquiring an additional 189 shares during the last quarter. EagleClaw Capital Managment LLC grew its stake in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $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 purchasing an additional 204 shares during the period. Angeles Investment Advisors LLC grew its holdings in shares of CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after purchasing an additional 204 shares in the last quarter. Finally, Rogco LP increased its stake in CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Robert W. Baird lifted their price objective on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $74.94.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

NYSE CVS traded up $1.52 during trading hours on Wednesday, hitting $62.86. The company had a trading volume of 3,780,382 shares, compared to its average volume of 11,284,445. The business has a 50 day moving average of $65.86 and a 200-day moving average of $59.46. The company has a market cap of $79.52 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. 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 posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. 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 previous year, the business posted $1.31 earnings per share. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given 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 4.23%. CVS Health's payout ratio 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.