1,382,790 Shares in CVS Health Co. (NYSE:CVS) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,382,790 shares of the pharmacy operator’s stock, valued at approximately $62,073,000. CVS Health makes up approximately 1.1% of Twinbeech Capital LP’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Whitebox Advisors LLC bought a new position in CVS Health during the 4th quarter valued at $249,000. Hall Laurie J Trustee boosted its stake in CVS Health by 25,484.4% during the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after purchasing an additional 11,468 shares in the last quarter. B&D White Capital Company LLC bought a new position in CVS Health during the 4th quarter valued at $417,000. Fairfax Financial Holdings Ltd. Can bought a new position in CVS Health during the 4th quarter valued at $121,742,000. Finally, Lazard Asset Management LLC boosted its stake in 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 valued at $192,617,000 after purchasing an additional 293,406 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock opened at $62.51 on Monday. The stock has a market cap of $79.07 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The business has a fifty day simple moving average of $66.57 and a 200-day simple moving average of $59.24. 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 Co. has a 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during 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%. CVS Health’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.26%. CVS Health’s dividend payout ratio is 63.48%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the 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 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 disclosure for this sale can be found here. 1.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVS shares. StockNews.com raised CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Mizuho raised their price objective on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Three 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.com, the company presently has an average 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.