Whitebox Advisors LLC Acquires New Shares in CVS Health Co. (NYSE:CVS)

Whitebox Advisors LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,550 shares of the pharmacy operator's stock, valued at approximately $249,000.

A number of other hedge funds have also added to or reduced their stakes in CVS. Morse Asset Management Inc purchased a new stake in shares of CVS Health in the third quarter valued at about $409,000. Westside Investment Management Inc. lifted its holdings in shares of CVS Health by 4.6% in the 3rd quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator's stock worth $4,041,000 after acquiring an additional 2,856 shares during the last quarter. World Investment Advisors LLC boosted its position in CVS Health by 280.7% during the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator's stock valued at $1,732,000 after buying an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVS Health during the third quarter worth about $2,071,000. Finally, Tidal Investments LLC increased its stake in shares of CVS Health by 52.2% in the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator's stock worth $7,043,000 after acquiring an additional 38,408 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVS. Truist Financial raised their target price on CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Evercore ISI increased their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group dropped their price target on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $71.83.

CVS Health Stock Performance

CVS opened at $66.65 on Thursday. 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 firm has a market capitalization of $84.03 billion, a PE ratio of 18.21, a P/E/G ratio of 0.98 and a beta of 0.57. The firm has a 50 day moving average of $66.51 and a two-hundred day moving average of $58.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $73.25.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.99%. CVS Health's dividend payout ratio is currently 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were 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 owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired 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 of the company's stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.