Flputnam Investment Management Co. Reduces Stake in CVS Health Co. (NYSE:CVS)

Flputnam Investment Management Co. decreased its position in CVS Health Co. (NYSE:CVS) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,739 shares of the pharmacy operator’s stock after selling 992 shares during the period. Flputnam Investment Management Co.’s holdings in CVS Health were worth $617,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Financial Perspectives Inc lifted its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Piper Sandler cut 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 note on Monday, November 25th. Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $64.82 on Tuesday. The firm’s fifty day simple moving average is $54.74 and its 200 day simple moving average is $56.53. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The firm has a market capitalization of $81.72 billion, a price-to-earnings ratio of 17.71, 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 earnings per share for the quarter, topping 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, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.10%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.