Plato Investment Management Ltd Boosts Stake in CVS Health Co. (NYSE:CVS)

Plato Investment Management Ltd raised its position in CVS Health Co. (NYSE:CVS) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,034 shares of the pharmacy operator’s stock after purchasing an additional 6,014 shares during the quarter. Plato Investment Management Ltd’s holdings in CVS Health were worth $1,894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the 3rd quarter worth about $25,000. Ridgewood Investments LLC raised its position in 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 period. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the 4th quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the 3rd quarter worth about $31,000. Finally, Financial Perspectives Inc raised its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVS. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wolfe Research raised their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.83.

CVS Health Price Performance

NYSE CVS opened at $64.82 on Tuesday. The firm’s fifty day simple moving average is $54.74 and its two-hundred day simple moving average is $56.53. 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 Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market capitalization of $81.72 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.