SignalPoint Asset Management LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

SignalPoint Asset Management LLC purchased a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,575 shares of the pharmacy operator’s stock, valued at approximately $203,000.

Other large investors have also added to or reduced their stakes in the company. Live Oak Investment Partners purchased a new position in shares of CVS Health during the 4th quarter worth approximately $25,000. Atticus Wealth Management LLC lifted its position in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of CVS Health in the 2nd quarter worth about $37,000. Finally, ZRC Wealth Management LLC increased its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CVS. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Thursday, February 8th. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.21.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded up $0.09 during trading hours on Wednesday, hitting $79.41. 1,988,101 shares of the stock traded hands, compared to its average volume of 11,191,193. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The company has a market cap of $99.93 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.04 and a beta of 0.51. The stock has a 50 day moving average price of $75.57 and a 200 day moving average price of $73.33.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.99 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

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.