CenterBook Partners LP Cuts Stock Position in CVS Health Co. (NYSE:CVS)

CenterBook Partners LP cut its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 210,370 shares of the pharmacy operator's stock after selling 45,859 shares during the quarter. CenterBook Partners LP's holdings in CVS Health were worth $9,444,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. EagleClaw Capital Managment LLC lifted its stake 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 worth $275,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC boosted its stake in shares of CVS Health by 4.8% during the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock valued at $200,000 after purchasing an additional 204 shares in the last quarter. Angeles Investment Advisors LLC lifted its holdings in CVS Health by 3.7% during the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock worth $256,000 after buying an additional 204 shares during the period. Rogco LP boosted its position in CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after acquiring an additional 210 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its position in shares of CVS Health by 3.7% in the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator's stock worth $293,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a legal 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 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 $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

CVS Health Price Performance

NYSE CVS traded down $0.21 during trading hours on Monday, hitting $69.30. 3,098,452 shares of the company's stock traded hands, compared to its average volume of 11,732,582. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm's 50-day moving average is $65.10 and its 200-day moving average is $58.51. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.66. The company has a market capitalization of $87.37 billion, a PE ratio of 18.93, a PEG ratio of 0.98 and a beta of 0.57.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. UBS Group reduced their price target on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Finally, Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Four research 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, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $71.28.

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.