Solel Partners LP Raises Stake in CVS Health Co. (NYSE:CVS)

Solel Partners LP increased its stake in shares of CVS Health Co. (NYSE:CVS) by 26.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,424,400 shares of the pharmacy operator’s stock after buying an additional 295,500 shares during the period. CVS Health accounts for about 12.5% of Solel Partners LP’s portfolio, making the stock its 2nd largest holding. Solel Partners LP’s holdings in CVS Health were worth $63,941,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in 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 during the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the 4th quarter worth $29,000. Financial Perspectives Inc boosted its position in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after acquiring an additional 437 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

Shares of CVS opened at $69.42 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $87.52 billion, a PE ratio of 18.97, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The business has a 50-day simple moving average of $66.64 and a two-hundred day simple moving average of $58.87.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the business earned $1.31 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.83%. CVS Health’s payout ratio is 72.68%.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the 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 sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CVS shares. Piper Sandler boosted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.83.

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.