CVS Health Co. (NYSE:CVS) Shares Sold by CM Management LLC

CM Management LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the pharmacy operator's stock after selling 10,000 shares during the period. CM Management LLC's holdings in CVS Health were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC boosted its stake in CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after buying an additional 461,569 shares during the period. Pzena Investment Management LLC boosted its stake in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after buying an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after buying an additional 710,281 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after buying an additional 3,071,613 shares during the period. Institutional investors own 80.66% of the company's stock.

Remove Ads

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney acquired 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, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company's stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

CVS has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Finally, Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.83.

CVS Health Stock Up 1.7 %

Shares of CVS traded up $1.09 during mid-day trading on Friday, hitting $66.34. 10,082,148 shares of the company traded hands, compared to its average volume of 11,965,158. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. 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 company has a market capitalization of $83.64 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average of $56.42 and a 200 day moving average of $56.73.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

CVS Health Company 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.