Mork Capital Management LLC Invests $1.01 Million in CVS Health Co. (NYSE:CVS)

Mork Capital Management LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,500 shares of the pharmacy operator's stock, valued at approximately $1,010,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the 4th quarter valued at about $29,000. Financial Perspectives Inc grew its position in CVS Health by 137.5% in 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. Compass Planning Associates Inc acquired a new position in CVS Health in the 4th quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. grew its position in 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. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. StockNews.com upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $74.94.

Insider Activity

In related news, Director Michael F. Mahoney bought 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James David Clark sold 7,513 shares of CVS Health 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of NYSE CVS traded up $2.04 during mid-day trading on Friday, hitting $62.51. The company had a trading volume of 10,777,559 shares, compared to its average volume of 11,435,194. The stock has a market cap of $79.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 12 month low of $43.56 and a 12 month 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 firm's 50 day simple moving average is $66.62 and its two-hundred day simple moving average is $59.16.

CVS Health (NYSE:CVS - Get Free Report) last announced 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. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter last year, the business posted $1.31 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.26%. 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.