71,234 Shares in CVS Health Co. (NYSE:CVS) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, Holdings Channel.com reports. The fund purchased 71,234 shares of the pharmacy operator’s stock, valued at approximately $3,198,000.

A number of other institutional investors have also modified their holdings of the stock. Brookstone Capital Management lifted its holdings in CVS Health by 10.9% in the fourth quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator’s stock valued at $3,116,000 after acquiring an additional 6,831 shares during the period. Marcum Wealth LLC boosted its holdings in CVS Health by 17.2% during the fourth quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator’s stock worth $392,000 after buying an additional 1,283 shares in the last quarter. Oak Thistle LLC acquired a new stake in CVS Health during the fourth quarter valued at $837,000. Park Avenue Securities LLC increased its holdings in CVS Health by 5.8% in the fourth quarter. Park Avenue Securities LLC now owns 24,646 shares of the pharmacy operator’s stock valued at $1,106,000 after buying an additional 1,359 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of CVS Health by 16.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,101 shares of the pharmacy operator’s stock worth $409,000 after acquiring an additional 1,296 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CVS. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Truist Financial raised their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.94.

CVS Health Trading Down 0.8%

CVS opened at $60.03 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The business’s 50-day simple moving average is $66.71 and its 200-day simple moving average is $59.15. The company 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. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during 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%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 8,394 shares in the company, 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 link. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65% increase in their position. The disclosure for this purchase can be found here. Corporate 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.