Man Group plc Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Man Group plc boosted its position in shares of CVS Health Co. (NYSE:CVS) by 230.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 840,814 shares of the pharmacy operator’s stock after buying an additional 586,270 shares during the period. Man Group plc’s holdings in CVS Health were worth $37,744,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVS. OMERS ADMINISTRATION Corp boosted its holdings in shares of CVS Health by 18.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 53,458 shares of the pharmacy operator’s stock worth $2,400,000 after purchasing an additional 8,375 shares during the last quarter. Mork Capital Management LLC acquired a new position in shares of CVS Health during the 4th quarter worth approximately $1,010,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CVS Health by 34.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 340,269 shares of the pharmacy operator’s stock worth $15,275,000 after purchasing an additional 86,715 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of CVS Health by 7.3% during the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock worth $192,617,000 after purchasing an additional 293,406 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of CVS Health during the 4th quarter worth approximately $12,574,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.8%

Shares of NYSE CVS opened at $60.03 on Thursday. The stock has a market cap of $75.94 billion, a P/E ratio of 16.40, a PEG ratio of 0.98 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The business’s fifty day simple moving average is $66.71 and its 200-day simple moving average is $59.15.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is currently 63.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVS shares. Royal Bank of Canada boosted their target price on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. StockNews.com upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, Wolfe Research upped their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $74.94.

Insider Activity

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 value of $498,487.55. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.22% of the company’s stock.

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.