Mork Capital Management LLC Invests $1.01 Million in CVS Health Co. (NYSE:CVS)

Mork Capital Management LLC acquired a new position in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,500 shares of the pharmacy operator’s stock, valued at approximately $1,010,000.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter valued at $29,000. Financial Perspectives Inc grew its holdings in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. grew its holdings in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new stake in CVS Health during the 4th quarter valued at $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the subject of a number of recent analyst reports. Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Barclays raised their price objective on shares of CVS Health from $73.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, UBS Group raised their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

CVS Health Trading Down 3.3%

Shares of NYSE:CVS opened at $64.74 on Tuesday. The company has a market cap of $81.89 billion, a PE ratio of 17.69, a P/E/G ratio of 0.98 and a beta of 0.60. The company’s 50-day moving average price is $66.93 and its 200 day moving average price is $59.12. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.31 EPS. Sell-side analysts anticipate 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 Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.11%. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by insiders.

CVS Health Company 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.