Choreo LLC Grows Holdings in CVS Health Co. (NYSE:CVS)

Choreo LLC raised its position in CVS Health Co. (NYSE:CVS) by 95.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,901 shares of the pharmacy operator’s stock after acquiring an additional 6,792 shares during the quarter. Choreo LLC’s holdings in CVS Health were worth $1,098,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in shares of CVS Health by 22.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after purchasing an additional 1,112 shares during the period. Brookstone Capital Management grew its position in shares of CVS Health by 18.3% in the third quarter. Brookstone Capital Management now owns 60,115 shares of the pharmacy operator’s stock valued at $4,245,000 after purchasing an additional 9,303 shares during the period. Accurate Wealth Management LLC increased its stake in shares of CVS Health by 4.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,144 shares of the pharmacy operator’s stock valued at $226,000 after acquiring an additional 148 shares during the last quarter. Xponance Inc. increased its stake in shares of CVS Health by 2.7% during the 3rd quarter. Xponance Inc. now owns 176,052 shares of the pharmacy operator’s stock valued at $12,292,000 after acquiring an additional 4,599 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of CVS Health by 24.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 167,903 shares of the pharmacy operator’s stock valued at $11,723,000 after acquiring an additional 33,274 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Price Performance

Shares of NYSE CVS opened at $67.73 on Wednesday. The firm has a market capitalization of $85.37 billion, a PE ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The business’s fifty day moving average price is $74.05 and its two-hundred day moving average price is $73.62.

CVS Health (NYSE:CVS) last issued 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 company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. On average, research analysts expect that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders 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 dividend yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

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.