Novem Group Makes New Investment in CVS Health Co. (NYSE:CVS)

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

Other large investors have also made changes to their positions in the company. LaFleur & Godfrey LLC lifted its holdings in shares of CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock valued at $217,000 after acquiring an additional 1,610 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of CVS Health by 17.5% during the fourth quarter. Ballentine Partners LLC now owns 5,314 shares of the pharmacy operator's stock worth $239,000 after purchasing an additional 793 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of CVS Health by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 28,801 shares of the pharmacy operator's stock worth $1,293,000 after buying an additional 9,234 shares during the period. Donoghue Forlines LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $1,400,000. Finally, Secure Asset Management LLC lifted its position in CVS Health by 13.8% during the 4th quarter. Secure Asset Management LLC now owns 33,271 shares of the pharmacy operator's stock worth $1,494,000 after acquiring an additional 4,024 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Evercore ISI increased their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. UBS Group boosted their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wolfe Research raised their target price on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Mizuho boosted their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.94.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Price Performance

CVS traded up $0.49 during trading on Tuesday, reaching $61.32. The stock had a trading volume of 5,612,720 shares, compared to its average volume of 11,313,881. The stock has a 50 day moving average of $66.01 and a two-hundred day moving average of $59.45. The firm has a market capitalization of $77.57 billion, a price-to-earnings ratio of 16.75, 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 quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its 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 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 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.