CVS Health Co. (NYSE:CVS) Director Buys $2,001,000.00 in Stock

CVS Health Co. (NYSE:CVS) Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CVS Health Stock Performance

CVS stock opened at $63.42 on Friday. The stock has a market capitalization of $79.95 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $52.39 and its 200 day simple moving average is $56.23.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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, research analysts forecast that CVS Health Co. will post 5.9 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

Several analysts have weighed in on CVS shares. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial lifted their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI lifted their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Four 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently added to or reduced their stakes in the stock. Aurdan Capital Management LLC purchased a new stake in CVS Health during the 4th quarter valued at $478,000. Mackenzie Financial Corp raised its stake in CVS Health by 9.0% during the 4th quarter. Mackenzie Financial Corp now owns 821,772 shares of the pharmacy operator’s stock valued at $36,889,000 after buying an additional 68,144 shares during the last quarter. Michels Family Financial LLC purchased a new stake in CVS Health during the 4th quarter valued at $454,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of CVS Health in the 4th quarter worth $49,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of CVS Health in the 4th quarter worth $1,445,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

About CVS Health

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.