Twinbeech Capital LP Buys Shares of 1,382,790 CVS Health Co. (NYSE:CVS)

Twinbeech Capital LP bought a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,382,790 shares of the pharmacy operator's stock, valued at approximately $62,073,000. CVS Health makes up approximately 1.1% of Twinbeech Capital LP's investment portfolio, making the stock its 19th largest position. Twinbeech Capital LP owned about 0.11% of CVS Health at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the 4th quarter worth about $29,000. Financial Perspectives Inc increased its holdings in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. grew its holdings in shares of CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after acquiring an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new position in shares of CVS Health in the 4th quarter valued at about $37,000. Institutional investors own 80.66% of the company's stock.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Royal Bank of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Finally, Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Stock Performance

CVS stock traded down $1.95 during mid-day trading on Thursday, hitting $60.16. 10,041,157 shares of the company were exchanged, compared to its average volume of 11,371,746. The business has a 50 day simple moving average of $66.41 and a 200-day simple moving average of $59.34. 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 stock has a market capitalization of $76.10 billion, a PE ratio of 16.44, 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.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate 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. On average, equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given 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 4.42%. CVS Health's payout ratio is 63.48%.

CVS Health 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.