Vega Investment Solutions Buys New Holdings in CVS Health Co. (NYSE:CVS)

Vega Investment Solutions bought a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,000 shares of the pharmacy operator's stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC lifted its position in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Financial Perspectives Inc boosted its stake in CVS Health by 137.5% in 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 during the period. Finally, MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Performance

CVS Health stock traded up $1.49 during trading hours on Wednesday, reaching $62.83. 3,994,482 shares of the company were exchanged, compared to its average volume of 11,285,413. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market cap of $79.47 billion, a price-to-earnings ratio of 17.16, 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 stock has a 50-day moving average of $65.86 and a 200 day moving average of $59.46.

CVS Health (NYSE:CVS - Get Free Report) last posted 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 business 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%. CVS Health's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. As a group, research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVS shares. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. UBS Group lifted their target price on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

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.