Novem Group Makes New Investment in CVS Health Co. (NYSE:CVS)

Novem Group bought a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,522 shares of the pharmacy operator’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Coppell Advisory Solutions LLC raised its stake in CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock valued at $56,000 after purchasing an additional 189 shares in the last quarter. EagleClaw Capital Managment LLC grew its position in CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock worth $275,000 after acquiring an additional 200 shares in the last quarter. Manchester Capital Management LLC grew its position 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 worth $200,000 after acquiring an additional 204 shares in the last quarter. Angeles Investment Advisors LLC grew its position in CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock worth $256,000 after acquiring an additional 204 shares in the last quarter. Finally, Rogco LP grew its position in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after acquiring an additional 210 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 12th. Royal Bank of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Mizuho upped their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.94.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

CVS stock opened at $60.16 on Friday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. 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 firm’s 50-day moving average price is $66.28 and its two-hundred day moving average price is $59.37. The stock has a market capitalization of $76.10 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter last year, the business posted $1.31 EPS. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is currently 63.48%.

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.