NEOS Investment Management LLC Buys 18,667 Shares of CVS Health Co. (NYSE:CVS)

NEOS Investment Management LLC boosted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,773 shares of the pharmacy operator's stock after buying an additional 18,667 shares during the quarter. NEOS Investment Management LLC's holdings in CVS Health were worth $3,491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Widmann Financial Services Inc. boosted its holdings in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after buying an additional 200 shares during the last quarter. EagleClaw Capital Managment LLC boosted its position in shares of CVS Health by 3.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC grew its holdings 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 worth $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC raised its position in CVS Health by 3.7% in the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after buying an additional 204 shares during the last quarter. Finally, 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 worth $303,000 after acquiring an additional 210 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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CVS Health Stock Down 0.1 %

Shares of CVS Health stock traded down $0.05 on Wednesday, hitting $67.93. The company had a trading volume of 1,877,881 shares, compared to its average volume of 11,555,102. The stock has a market capitalization of $85.65 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $75.27. The stock has a 50 day moving average of $62.72 and a 200-day moving average of $57.83.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. CVS Health's dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Truist Financial boosted their price objective on CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.39.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price 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 $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% 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.