Aigen Investment Management LP Invests $557,000 in CVS Health Co. (NYSE:CVS)

Aigen Investment Management LP purchased a new position in CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,413 shares of the pharmacy operator's stock, valued at approximately $557,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the third quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the third quarter worth about $31,000. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of CVS Health in the third quarter worth about $40,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.7 %

Shares of CVS Health stock traded up $1.09 on Friday, hitting $66.34. The stock had a trading volume of 10,082,148 shares, compared to its average volume of 11,965,158. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a market cap of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54. The stock's 50-day simple moving average is $56.42 and its two-hundred day simple moving average is $56.73.

Remove Ads

CVS Health (NYSE:CVS - Get Free Report) last issued 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%. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is currently 72.68%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and raised their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Finally, Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.83.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction 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. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

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.