Glenview Capital Management LLC Purchases New Stake in CVS Health Co. (NYSE:CVS)

Glenview Capital Management LLC purchased a new stake in CVS Health Co. (NYSE:CVSFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 746,144 shares of the pharmacy operator’s stock, valued at approximately $58,916,000. CVS Health comprises 1.3% of Glenview Capital Management LLC’s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also added to or reduced their stakes in CVS. SOA Wealth Advisors LLC. boosted its holdings in CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after buying an additional 133 shares during the last quarter. Apella Capital LLC boosted its holdings in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after buying an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC boosted 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 worth $285,000 after buying an additional 141 shares during the last quarter. WealthShield Partners LLC boosted its holdings in CVS Health by 3.2% during the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after buying an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in 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 buying an additional 142 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVS shares. TD Cowen cut CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Truist Financial reiterated a “buy” rating and set a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

Get Our Latest Research Report on CVS

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.36 during midday trading on Thursday, hitting $60.35. 5,548,336 shares of the company’s stock were exchanged, compared to its average volume of 12,107,180. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company’s 50 day moving average price is $62.05 and its 200 day moving average price is $71.03. The firm has a market capitalization of $75.76 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.41%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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