CVS Health Co. (NYSE:CVS) Director Michael F. Mahoney Acquires 30,000 Shares

CVS Health Co. (NYSE:CVS) Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CVS Health Stock Performance

NYSE:CVS opened at $66.35 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm’s 50-day moving average is $51.80 and its 200-day moving average is $56.12. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued 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 return on equity of 9.11% and a net margin of 1.24%. Equities research analysts anticipate that CVS Health Co. will post 5.92 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVS shares. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Barclays increased their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.00.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares during the period. Cullinan Associates Inc. boosted its stake in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.