Achmea Investment Management B.V. Sells 13,017 Shares of CVS Health Co. (NYSE:CVS)

Achmea Investment Management B.V. trimmed its stake in CVS Health Co. (NYSE:CVS) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,143 shares of the pharmacy operator’s stock after selling 13,017 shares during the quarter. Achmea Investment Management B.V.’s holdings in CVS Health were worth $4,764,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the third quarter valued at $25,000. Ridgewood Investments LLC lifted 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 valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the fourth quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health during the fourth quarter valued at $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in CVS Health during the third quarter valued at $31,000. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CVS Health 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 transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price 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 in the company, 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Price Performance

Shares of CVS stock opened at $65.63 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market capitalization of $82.75 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.53. The stock has a 50 day moving average price of $58.47 and a 200 day moving average price of $57.00.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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 predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s payout ratio is currently 72.68%.

About CVS Health

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.