Polar Capital LLP acquired a new stake in CVS Health Corp (NYSE:CVS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 275,000 shares of the pharmacy operator’s stock, valued at approximately $18,018,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Bell Rock Capital LLC lifted its holdings in CVS Health by 764.0% during the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new stake in CVS Health during the 4th quarter worth about $30,000. Acima Private Wealth LLC purchased a new stake in CVS Health during the 4th quarter worth about $33,000. Cornerstone Advisors Inc. lifted its holdings in CVS Health by 71.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after buying an additional 212 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in CVS Health during the 4th quarter worth about $39,000. 81.62% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CVS. SunTrust Banks decreased their price target on CVS Health from $85.00 to $65.00 in a report on Wednesday. Bank of America decreased their price target on CVS Health from $82.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets began coverage on CVS Health in a report on Wednesday. They set a “market perform” rating for the company. UBS Group decreased their price target on CVS Health from $75.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, February 21st. Finally, Barclays began coverage on CVS Health in a report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $81.94.

In other news, Director David W. Dorman bought 9,600 shares of CVS Health stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $52.71 per share, with a total value of $506,016.00. Following the acquisition, the director now owns 122,302 shares of the company’s stock, valued at $6,446,538.42. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James David Clark sold 1,664 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at $497,503.98. The disclosure for this sale can be found here. Over the last three months, insiders bought 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. 0.53% of the stock is currently owned by insiders.

CVS Health stock opened at $53.87 on Thursday. CVS Health Corp has a fifty-two week low of $51.77 and a fifty-two week high of $82.15. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $69.75 billion, a PE ratio of 7.61, a PEG ratio of 1.04 and a beta of 0.94.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. During the same period in the previous year, the business earned $1.92 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that CVS Health Corp will post 6.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, April 22nd. CVS Health’s payout ratio is currently 28.25%.

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CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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