North Forty Two & Co. Takes Position in CVS Health Co. (NYSE:CVS)

North Forty Two & Co. acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,893 shares of the pharmacy operator’s stock, valued at approximately $354,000.

Other large investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the third quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the third quarter valued at $31,000. Ridgewood Investments LLC grew 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 buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the third quarter valued at $40,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value 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 represents a 47.23 % decrease in their position. The transaction 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 purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $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 owned by corporate insiders.

CVS Health Stock Up 1.3 %

CVS opened at $67.49 on Wednesday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. 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 company has a 50-day moving average price of $59.32 and a 200 day moving average price of $57.12. The company has a market cap of $85.09 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

CVS has been the subject of a number of research reports. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

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.