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

CVS Health Co. (NYSE:CVS) Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CVS Health Stock Up 1.2 %

Shares of NYSE CVS opened at $66.35 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $83.65 billion, a PE ratio of 18.13, a P/E/G ratio of 0.98 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business’s fifty day moving average price is $51.80 and its 200-day moving average price is $56.12.

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%. On average, equities research analysts anticipate that CVS Health Co. will post 5.92 EPS 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 given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. CVS Health’s dividend payout ratio is currently 72.68%.

Institutional Investors Weigh In On CVS Health

Several hedge funds have recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth approximately $25,000. Ridgewood Investments LLC raised its position in CVS Health by 255.7% in 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 last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the fourth quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter valued at approximately $31,000. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.00.

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.