Simplify Asset Management Inc. Makes New $409,000 Investment in CVS Health Co. (NYSE:CVS)

Simplify Asset Management Inc. purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,114 shares of the pharmacy operator’s stock, valued at approximately $409,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth $31,000. Ridgewood Investments LLC grew its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health in the 4th quarter valued at about $28,000. RPg Family Wealth Advisory LLC bought a new position in shares of CVS Health in the third quarter worth about $40,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CVS. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective 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. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity

In related news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value 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. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $67.22 on Friday. The firm’s fifty day moving average is $60.60 and its 200 day moving average is $57.35. The firm has a market cap of $84.75 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

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.