Parkman Healthcare Partners LLC Purchases Shares of 180,000 CVS Health Co. (NYSE:CVS)

Parkman Healthcare Partners LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 180,000 shares of the pharmacy operator's stock, valued at approximately $8,080,000.

Several other large investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its holdings in shares of CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock worth $56,000 after purchasing an additional 189 shares during the last quarter. EagleClaw Capital Managment LLC increased its holdings in CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC lifted its holdings in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after buying an additional 204 shares during the period. Angeles Investment Advisors LLC increased its stake in shares of CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after buying an additional 204 shares during the period. Finally, Rogco LP lifted its stake in shares of CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after acquiring an additional 210 shares during the period. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVS. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Three equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.94.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This trade represents a 320.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 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 disclosure for this sale can be found here. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

NYSE:CVS opened at $60.50 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market cap of $76.53 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The business's fifty day moving average is $66.84 and its 200 day moving average is $59.15.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 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 company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed 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 dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

CVS Health Company Profile

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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