3,421 Shares in CVS Health Co. (NYSE:CVS) Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,421 shares of the pharmacy operator’s stock, valued at approximately $270,000.

Other hedge funds also recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its position in shares of CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after buying an additional 133 shares in the last quarter. Apella Capital LLC raised its position in CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC increased its holdings in CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after buying an additional 141 shares during the period. WealthShield Partners LLC increased its holdings in shares of CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after acquiring an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of CVS Health by 9.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada decreased their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Piper Sandler lifted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. SVB Leerink initiated coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Trading Down 0.8 %

Shares of NYSE:CVS traded down $0.58 during trading on Wednesday, reaching $67.92. The stock had a trading volume of 4,044,409 shares, compared to its average volume of 10,669,728. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The business has a fifty day moving average price of $74.97 and a 200-day moving average price of $73.76. The stock has a market cap of $85.61 billion, a P/E ratio of 10.52, a PEG ratio of 0.92 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.99 earnings per share. As a group, analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.