Dynamic Technology Lab Private Ltd Makes New Investment in CVS Health Co. (NYSE:CVS)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,742 shares of the pharmacy operator’s stock, valued at approximately $1,111,000.

Other large investors have also recently added to or reduced their stakes in the company. Rhenman & Partners Asset Management AB grew its position in shares of CVS Health by 45.4% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 267,500 shares of the pharmacy operator’s stock valued at $12,008,000 after buying an additional 83,500 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in CVS Health in the fourth quarter valued at approximately $19,185,000. Integrated Quantitative Investments LLC bought a new position in shares of CVS Health during the fourth quarter valued at approximately $426,000. Landscape Capital Management L.L.C. raised its position in shares of CVS Health by 55.9% during the 4th quarter. Landscape Capital Management L.L.C. now owns 117,729 shares of the pharmacy operator’s stock worth $5,285,000 after purchasing an additional 42,205 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in CVS Health during the 4th quarter valued at approximately $11,437,000. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. 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. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Piper Sandler upped their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Evercore ISI raised their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Performance

NYSE:CVS opened at $63.54 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $63.47 and a 200-day moving average of $58.01. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $74.85. The firm has a market cap of $80.11 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health’s dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly 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. Corporate insiders own 0.24% of the company’s stock.

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.