Owl Creek Asset Management L.P. increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 126.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,750,594 shares of the pharmacy operator’s stock after acquiring an additional 976,494 shares during the quarter. CVS Health makes up about 3.8% of Owl Creek Asset Management L.P.’s holdings, making the stock its 3rd largest position. Owl Creek Asset Management L.P. owned about 0.17% of CVS Health worth $114,699,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. CI Investments Inc. grew its position in CVS Health by 0.8% during the 3rd quarter. CI Investments Inc. now owns 4,459,800 shares of the pharmacy operator’s stock worth $351,075,000 after acquiring an additional 36,400 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in CVS Health in the 3rd quarter worth approximately $248,000. Verition Fund Management LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $1,114,000. Brown Brothers Harriman & Co. lifted its holdings in CVS Health by 4.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 80,066 shares of the pharmacy operator’s stock worth $6,303,000 after buying an additional 3,600 shares during the period. Finally, Orleans Capital Management Corp LA lifted its holdings in CVS Health by 32.4% in the 3rd quarter. Orleans Capital Management Corp LA now owns 23,620 shares of the pharmacy operator’s stock worth $1,859,000 after buying an additional 5,785 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
CVS Health stock opened at $53.90 on Wednesday. The firm has a market capitalization of $70.40 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94. CVS Health Corp has a 12 month low of $51.77 and a 12 month high of $82.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.03 and a quick ratio of 0.65.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.07. The business had revenue of $54.42 billion during the quarter, compared to analyst estimates of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 EPS. Equities research analysts forecast that CVS Health Corp will post 6.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s payout ratio is 28.25%.
In other news, Director David W. Dorman acquired 9,600 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $52.71 per share, with a total value of $506,016.00. Following the completion of the acquisition, the director now directly owns 122,302 shares of the company’s stock, valued at approximately $6,446,538.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C David Brown II acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $53.18 per share, with a total value of $531,800.00. Following the acquisition, the director now directly owns 16,222 shares of the company’s stock, valued at $862,685.96. The disclosure for this purchase can be found here. In the last three months, insiders acquired 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. 0.53% of the stock is currently owned by company insiders.
Several research firms have weighed in on CVS. Barclays began coverage on CVS Health in a report on Tuesday, December 18th. They issued an “overweight” rating and a $91.00 price objective for the company. Wells Fargo & Co cut CVS Health from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $104.00 to $68.00 in a report on Wednesday, February 20th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. Cantor Fitzgerald reiterated a “buy” rating and issued a $96.00 price objective on shares of CVS Health in a report on Thursday, January 3rd. Finally, Bank of America reiterated a “buy” rating and issued a $92.00 price objective on shares of CVS Health in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and an average price target of $79.61.
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CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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