Woodline Partners LP purchased a new position in CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 54,593 shares of the pharmacy operator's stock, valued at approximately $2,451,000.
Several other hedge funds have also made changes to their positions in CVS. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter valued at $29,000. Financial Perspectives Inc raised its stake in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. raised its stake 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 worth $37,000 after buying an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new stake in shares of CVS Health in the 4th quarter worth $37,000. Institutional investors own 80.66% of the company's stock.
Insider Buying and Selling at CVS Health
In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction that occurred on 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. This represents a 47.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.22% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Three investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.94.
Check Out Our Latest Analysis on CVS
CVS Health Stock Performance
Shares of NYSE CVS traded up $0.76 during trading hours on Friday, hitting $63.54. 2,228,990 shares of the company's stock were exchanged, compared to its average volume of 11,234,060. 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 current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $80.38 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.60. The company's 50-day moving average price is $65.67 and its 200-day moving average price is $59.53.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly 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 firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health's dividend payout ratio (DPR) is 63.48%.
About CVS Health
(
Free Report)
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.
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