MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in CVS Health Co. (NYSE:CVS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 34.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,269 shares of the pharmacy operator's stock after purchasing an additional 86,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in CVS Health were worth $15,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the 4th quarter worth $29,000. Financial Perspectives Inc lifted 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 buying an additional 466 shares during the period. Compass Planning Associates Inc acquired a new stake in shares of CVS Health in the fourth quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. increased its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after buying an additional 437 shares during the period. Institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.3%

CVS Health stock traded up $0.18 during mid-day trading on Monday, reaching $62.71. The stock had a trading volume of 7,830,328 shares, compared to its average volume of 11,428,090. The firm has a market capitalization of $79.33 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock's 50-day simple moving average is $66.57 and its 200-day simple moving average is $59.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

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, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter last year, the firm posted $1.31 EPS. CVS Health's revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Wells Fargo & Company restated an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.