Turtle Creek Asset Management Inc. Lowers Stake in CVS Health Co. (NYSE:CVS)

Turtle Creek Asset Management Inc. reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,952,991 shares of the pharmacy operator’s stock after selling 144,676 shares during the period. CVS Health makes up 2.3% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Turtle Creek Asset Management Inc. owned about 0.15% of CVS Health worth $87,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. Financial Perspectives Inc boosted its holdings 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 in the last quarter. Compass Planning Associates Inc purchased a new stake in shares of CVS Health in the fourth quarter valued at about $37,000. Finally, MidAtlantic Capital Management Inc. boosted its holdings 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 hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE:CVS opened at $62.51 on Friday. The firm has a 50 day simple moving average of $66.57 and a 200-day simple moving average of $59.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $79.07 billion, a PE ratio of 17.08, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share 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 in the previous year, the business posted $1.31 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared 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. This represents a $2.66 annualized dividend and a yield of 4.26%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 63.48%.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value 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 trade represents a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Robert W. Baird boosted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. 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, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

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.