Patient Capital Management LLC Increases Position in CVS Health Co. (NYSE:CVS)

Patient Capital Management LLC increased its position in CVS Health Co. (NYSE:CVS - Free Report) by 68.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,298,429 shares of the pharmacy operator's stock after purchasing an additional 529,333 shares during the period. CVS Health accounts for 2.7% of Patient Capital Management LLC's portfolio, making the stock its 21st biggest position. Patient Capital Management LLC owned approximately 0.10% of CVS Health worth $58,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whitebox Advisors LLC purchased a new stake in shares of CVS Health in the fourth quarter worth $249,000. Hall Laurie J Trustee lifted its holdings in shares of CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator's stock valued at $517,000 after purchasing an additional 11,468 shares in the last quarter. B&D White Capital Company LLC bought a new position in shares of CVS Health during the fourth quarter valued at $417,000. Fairfax Financial Holdings Ltd. Can bought a new position in shares of CVS Health during the fourth quarter valued at $121,742,000. Finally, Seizert Capital Partners LLC lifted its holdings in shares of CVS Health by 22.8% during the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock valued at $25,566,000 after purchasing an additional 105,708 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Evercore ISI upped their price target on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Robert W. Baird increased their target price on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Wells Fargo & Company reissued 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 Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.94.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney bought 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, with a total value of $2,001,000.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated 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 approximately $556,941.90. This represents a 47.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.

CVS Health Price Performance

Shares of NYSE:CVS traded up $2.04 during midday trading on Friday, reaching $62.51. 10,777,559 shares of the company were exchanged, compared to its average volume of 11,435,195. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market cap of $79.07 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The business's fifty day moving average is $66.57 and its two-hundred day moving average is $59.20. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last issued its 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 firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend yield of 4.26%. CVS Health's dividend payout ratio (DPR) is 63.48%.

CVS Health 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.