Voloridge Investment Management LLC Sells 1,032,197 Shares of CVS Health Co. (NYSE:CVS)

Voloridge Investment Management LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 53.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 903,736 shares of the pharmacy operator's stock after selling 1,032,197 shares during the quarter. Voloridge Investment Management LLC owned about 0.07% of CVS Health worth $40,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Waverly Advisors LLC raised its holdings in shares of CVS Health by 7.9% during the 4th quarter. Waverly Advisors LLC now owns 19,071 shares of the pharmacy operator's stock valued at $856,000 after purchasing an additional 1,392 shares in the last quarter. Woodline Partners LP bought a new position in shares of CVS Health during the 4th quarter valued at $2,451,000. Vivaldi Capital Management LP bought a new position in shares of CVS Health during the 4th quarter valued at $7,048,000. St. Clair Advisors LLC bought a new position in shares of CVS Health during the 4th quarter valued at $269,000. Finally, Triglav Skladi D.O.O. bought a new position in shares of CVS Health during the 4th quarter valued at $7,904,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVS. Piper Sandler raised their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Barclays raised their target price on shares of CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Royal Bank of Canada raised their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Three investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Stock Performance

NYSE CVS traded up $0.58 during midday trading on Friday, hitting $60.80. The company had a trading volume of 8,141,495 shares, compared to its average volume of 11,331,035. 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 market cap of $76.91 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.60. The firm has a fifty day simple moving average of $66.15 and a two-hundred day simple moving average of $59.41. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $94.59 billion for 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 last year, the business posted $1.31 EPS. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 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.