CVS Health Co. (NYSE:CVS) Stake Reduced by Parthenon LLC

Parthenon LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,325 shares of the pharmacy operator’s stock after selling 6,136 shares during the period. Parthenon LLC’s holdings in CVS Health were worth $6,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC lifted its stake in 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $32,000. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CVS. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Stock Performance

CVS opened at $66.35 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 company has a market cap of $83.65 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The stock has a 50-day moving average of $51.80 and a 200-day moving average of $56.12. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate 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, equities research analysts forecast that CVS Health Co. will post 5.92 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

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.