Fairfax Financial Holdings Ltd. Can Makes New $121.74 Million Investment in CVS Health Co. (NYSE:CVS)

Fairfax Financial Holdings Ltd. Can bought a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,712,000 shares of the pharmacy operator’s stock, valued at approximately $121,742,000. CVS Health makes up about 7.8% of Fairfax Financial Holdings Ltd. Can’s holdings, making the stock its 5th biggest holding. Fairfax Financial Holdings Ltd. Can owned about 0.22% of CVS Health as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its holdings in CVS Health by 46.0% during the 4th quarter. Deutsche Bank AG now owns 4,379,753 shares of the pharmacy operator’s stock worth $196,607,000 after buying an additional 1,379,932 shares during the last quarter. Dimension Capital Management LLC acquired a new position in CVS Health during the 4th quarter valued at approximately $342,000. Collar Capital Management LLC bought a new position in CVS Health during the 4th quarter worth $520,000. CoreCap Advisors LLC increased its holdings in shares of CVS Health by 18.6% in the 4th quarter. CoreCap Advisors LLC now owns 4,328 shares of the pharmacy operator’s stock worth $194,000 after acquiring an additional 679 shares during the period. Finally, Cetera Investment Advisers grew its position in CVS Health by 2.1% in the 4th quarter. Cetera Investment Advisers now owns 318,779 shares of the pharmacy operator’s stock worth $14,310,000 after purchasing an additional 6,524 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, 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. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Up 1.6 %

CVS Health stock opened at $67.82 on Friday. The company has a market capitalization of $85.51 billion, a P/E ratio of 18.53, 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. The firm’s fifty day simple moving average is $66.90 and its 200-day simple moving average is $58.97. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday. Finally, UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.81.

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.