Twin Lakes Capital Management LLC Trims Position in CVS Health Co. (NYSE:CVS)

Twin Lakes Capital Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 42.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,223 shares of the pharmacy operator’s stock after selling 12,478 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in CVS Health were worth $773,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at $29,000. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Financial Perspectives Inc lifted its stake in shares of 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 purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. lifted its stake in shares of CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS Health stock opened at $60.80 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a market capitalization of $76.91 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.98 and a beta of 0.60. The company has a fifty day simple moving average of $66.15 and a 200-day simple moving average of $59.41. 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 released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, UBS Group boosted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Three 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.94.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.22% of the company’s stock.

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.