Stevens Capital Management LP Acquires Shares of 31,765 CVS Health Co. (NYSE:CVS)

Stevens Capital Management LP acquired a new stake in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 31,765 shares of the pharmacy operator’s stock, valued at approximately $1,426,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the 3rd quarter worth $31,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter worth $28,000. RPg Family Wealth Advisory LLC bought a new position in shares of CVS Health in the 3rd quarter worth $40,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the 4th quarter worth $29,000. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The transaction 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 CVS Health stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, 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 currently owned by corporate insiders.

Analyst Ratings Changes

CVS has been the topic of several recent research reports. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. 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. Finally, TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Price Performance

Shares of NYSE CVS opened at $67.22 on Friday. The stock has a market capitalization of $84.75 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. The business has a 50-day moving average of $60.60 and a 200-day moving average of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is currently 72.68%.

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.