E Fund Management Co. Ltd. Raises Position in CVS Health Co. (NYSE:CVS)

E Fund Management Co. Ltd. grew its position in CVS Health Co. (NYSE:CVS) by 87.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,390 shares of the pharmacy operator’s stock after buying an additional 4,392 shares during the period. E Fund Management Co. Ltd.’s holdings in CVS Health were worth $422,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. Raymond James Financial Inc. bought a new stake in shares of CVS Health in the fourth quarter worth approximately $116,033,000. ARGA Investment Management LP grew its stake in shares of CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after acquiring an additional 2,371,563 shares during the period. State Street Corp grew its stake in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. Finally, TOMS Capital Investment Management LP bought a new stake in shares of CVS Health in the third quarter worth approximately $121,987,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly 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 legal filing with the SEC, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVS. UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Piper Sandler cut their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada cut their target price 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. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Price Performance

CVS stock opened at $66.34 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company’s fifty day moving average price is $56.42 and its 200-day moving average price is $56.75. 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 capitalization of $83.64 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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%. On average, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

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.