Polymer Capital Management US LLC Purchases Shares of 4,608 CVS Health Co. (NYSE:CVS)

Polymer Capital Management US LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,608 shares of the pharmacy operator's stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after purchasing an additional 689,867 shares during the period. Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after acquiring an additional 6,475,271 shares during the period. Norges Bank purchased a new stake in shares of CVS Health during the 4th quarter worth $839,574,000. Charles Schwab Investment Management Inc. grew its stake in shares of CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after purchasing an additional 710,281 shares during the period. Finally, Davis Selected Advisers lifted its stake in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $2,625,045.20. This trade represents 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 Trading Up 0.0 %

CVS traded up $0.03 during trading on Monday, hitting $69.54. 2,362,487 shares of the company's stock were exchanged, compared to its average volume of 11,730,128. The stock has a 50 day moving average price of $65.10 and a 200 day moving average price of $58.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $71.66. The firm has a market cap of $87.68 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 annualized dividend and a dividend yield of 3.83%. CVS Health's payout ratio is 72.68%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVS shares. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Truist Financial lifted their target price on shares of CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler increased their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Wells Fargo & Company upped their target price on CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Mizuho boosted their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average target price 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.