Machina Capital S.A.S. lifted its holdings in shares of CVS Health Corp (NYSE:CVS) by 143.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,469 shares of the pharmacy operator’s stock after buying an additional 12,054 shares during the quarter. Machina Capital S.A.S.’s holdings in CVS Health were worth $1,521,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Signet Financial Management LLC raised its stake in shares of CVS Health by 8.4% during the 3rd quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock worth $363,000 after buying an additional 391 shares during the period. Trilogy Capital Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $234,000. Alta Capital Management LLC increased its position in shares of CVS Health by 8.0% during the fourth quarter. Alta Capital Management LLC now owns 539,522 shares of the pharmacy operator’s stock worth $40,081,000 after purchasing an additional 40,161 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of CVS Health during the third quarter worth approximately $22,738,000. Finally, Regal Investment Advisors LLC increased its position in shares of CVS Health by 349.5% during the third quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock worth $2,717,000 after purchasing an additional 33,491 shares in the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on CVS. UBS Group boosted their price target on CVS Health from $78.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank boosted their price target on CVS Health from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James reiterated a “strong-buy” rating and set a $90.00 price target (up from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their price target on CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Cowen set a $76.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $79.26.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The company had revenue of $66.89 billion during the quarter, compared to analysts’ expectations of $64.01 billion. CVS Health had a return on equity of 14.87% and a net margin of 2.58%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. On average, analysts forecast that CVS Health Corp will post 7.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Wednesday, January 22nd. CVS Health’s payout ratio is currently 28.25%.
In other CVS Health news, COO Jonathan C. Roberts sold 57,563 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total value of $4,180,800.69. Following the completion of the sale, the chief operating officer now directly owns 102,608 shares in the company, valued at approximately $7,452,419.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Larry J. Merlo sold 266,476 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the sale, the chief executive officer now owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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