Candriam S.C.A. Boosts Holdings in CVS Health Co. (NYSE:CVS)

Candriam S.C.A. raised its stake in shares of CVS Health Co. (NYSE:CVS) by 13.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 110,200 shares of the pharmacy operator’s stock after acquiring an additional 13,040 shares during the quarter. Candriam S.C.A.’s holdings in CVS Health were worth $4,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the third quarter valued at $25,000. Ridgewood Investments LLC lifted its holdings 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 purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health during the fourth quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $31,000. Finally, Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 8,394 shares of the company’s stock, 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 can be accessed through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $66.34 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock has a market cap of $83.64 billion, a PE ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. The firm has a 50-day simple moving average of $56.42 and a two-hundred day simple moving average of $56.75. 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 (NYSE:CVS) last posted its quarterly earnings data 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 net margin of 1.24% and a return on equity of 9.11%. As a group, analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid 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 payout ratio is 72.68%.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Barclays increased their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.