Convergence Investment Partners LLC Has $379,000 Stake in CVS Health Co. (NYSE:CVS)

Convergence Investment Partners LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 34.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,450 shares of the pharmacy operator’s stock after selling 4,539 shares during the period. Convergence Investment Partners LLC’s holdings in CVS Health were worth $379,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVS. Integrated Advisors Network LLC boosted its holdings in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares in the last quarter. Widmann Financial Services Inc. boosted its holdings in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares in the last quarter. DT Investment Partners LLC boosted its stake in CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after buying an additional 202 shares in the last quarter. Manchester Capital Management LLC boosted its stake in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after buying an additional 204 shares in the last quarter. Finally, Rogco LP boosted its stake in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Stock Performance

Shares of CVS opened at $66.35 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $83.65 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.98 and a beta of 0.61. The stock has a 50 day moving average of $51.80 and a 200 day moving average of $56.12. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, sell-side analysts forecast that CVS Health Co. will post 5.92 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. CVS Health’s payout ratio is currently 72.68%.

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.