Polaris Capital Management LLC Purchases 34,700 Shares of CVS Health Co. (NYSE:CVS)

Polaris Capital Management LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,500 shares of the pharmacy operator’s stock after acquiring an additional 34,700 shares during the quarter. Polaris Capital Management LLC’s holdings in CVS Health were worth $21,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter worth about $25,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter worth about $28,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC purchased a new position in CVS Health in the third quarter valued at approximately $31,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $54.24 on Tuesday. The stock’s 50 day moving average is $50.79 and its 200 day moving average is $55.98. The company has a market capitalization of $68.26 billion, a P/E ratio of 13.77, a PEG ratio of 0.60 and a beta of 0.61. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.90%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several brokerages have commented on CVS. TD Cowen raised their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler dropped 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. Evercore ISI increased their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. 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. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.

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.