Point72 Hong Kong Ltd Invests $3.20 Million in CVS Health Co. (NYSE:CVS)

Point72 Hong Kong Ltd acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 71,234 shares of the pharmacy operator's stock, valued at approximately $3,198,000.

A number of other hedge funds have also bought and sold shares of CVS. Brookstone Capital Management boosted its position in shares of CVS Health by 10.9% during the fourth quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator's stock valued at $3,116,000 after buying an additional 6,831 shares during the period. Marcum Wealth LLC lifted its stake in shares of CVS Health by 17.2% during the 4th quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator's stock worth $392,000 after acquiring an additional 1,283 shares during the last quarter. Oak Thistle LLC bought a new position in CVS Health in the 4th quarter valued at $837,000. Park Avenue Securities LLC increased its stake in CVS Health by 5.8% in the fourth quarter. Park Avenue Securities LLC now owns 24,646 shares of the pharmacy operator's stock worth $1,106,000 after purchasing an additional 1,359 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of CVS Health by 16.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,101 shares of the pharmacy operator's stock worth $409,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Trading Down 0.8%

NYSE CVS opened at $60.03 on Thursday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a 50 day moving average price of $66.71 and a 200 day moving average price of $59.15. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market cap of $75.94 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the firm posted $1.31 earnings per share. The business's quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. CVS Health's payout ratio is 63.48%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Mizuho raised their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Barclays increased their price objective on CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Three investment 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 company. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average price target of $74.94.

Insider Activity

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 shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This trade represents a 320.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company's stock.

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.

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