Susquehanna Fundamental Investments LLC Makes New $28.22 Million Investment in CVS Health Co. (NYSE:CVS)

Susquehanna Fundamental Investments LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 628,540 shares of the pharmacy operator’s stock, valued at approximately $28,215,000.

A number of other large investors also recently made changes to their positions in CVS. Ridgewood Investments LLC increased its position in CVS Health by 255.7% during 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 period. Stonebridge Financial Group LLC acquired a new stake in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health in the 4th quarter valued at about $29,000. Financial Perspectives Inc grew its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. raised its position in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Truist Financial upped their price target on shares of CVS Health from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Piper Sandler boosted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.83.

CVS Health Stock Performance

Shares of CVS Health stock opened at $65.30 on Friday. The stock has a market cap of $82.33 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 0.98 and a beta of 0.57. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $71.45. The company’s fifty day moving average is $66.48 and its 200 day moving average is $58.87. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.07%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

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.