Persium Advisors LLC Takes Position in CVS Health Co. (NYSE:CVS)

Persium Advisors LLC bought a new position in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,190 shares of the pharmacy operator’s stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth approximately $25,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% during the fourth 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. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth approximately $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth approximately $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS traded up $3.58 during trading on Monday, reaching $51.59. 21,027,576 shares of the company’s stock were exchanged, compared to its average volume of 14,418,590. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $51.82 and a 200 day moving average price of $56.55. The company has a market capitalization of $64.92 billion, a P/E ratio of 13.09, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

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.