E Fund Management Co. Ltd. Buys 4,392 Shares of CVS Health Co. (NYSE:CVS)

E Fund Management Co. Ltd. increased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 87.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,390 shares of the pharmacy operator's stock after buying an additional 4,392 shares during the period. E Fund Management Co. Ltd.'s holdings in CVS Health were worth $422,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter worth $31,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in CVS Health during the 3rd quarter worth $40,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVS shares. TD Cowen upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wells Fargo & Company raised their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. 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 note on Thursday, February 13th. Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Barclays lifted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Four 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.83.

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Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value 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 $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

CVS Health Stock Performance

CVS stock traded up $1.09 during midday 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 twelve month low of $43.56 and a twelve month 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 business has a 50 day simple moving average of $56.42 and a 200-day simple moving average of $56.75. The stock has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last announced 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%. As a group, equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 annualized dividend and a dividend yield of 4.01%. CVS Health's dividend payout ratio is 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.