Choreo LLC Acquires 6,792 Shares of CVS Health Co. (NYSE:CVS)

Choreo LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 95.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,901 shares of the pharmacy operator’s stock after purchasing an additional 6,792 shares during the period. Choreo LLC’s holdings in CVS Health were worth $1,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC lifted its stake in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. raised its stake in CVS Health by 26.5% in the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after buying an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC raised its stake in CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after buying an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its stake in CVS Health by 2.6% in the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after buying an additional 491 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

CVS Health Stock Up 0.4 %

Shares of CVS stock opened at $67.73 on Wednesday. The company has a market capitalization of $85.37 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The company’s fifty day moving average price is $74.05 and its 200-day moving average price is $73.62. 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.99 EPS. Sell-side analysts expect that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.93%. CVS Health’s payout ratio is currently 41.18%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVS shares. Wells Fargo & Company cut their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. SVB Leerink initiated coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Finally, Barclays initiated coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.