Twin Capital Management Inc. Boosts Holdings in CVS Health Co. (NYSE:CVS)

Twin Capital Management Inc. raised its position in shares of CVS Health Co. (NYSE:CVS) by 18.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,662 shares of the pharmacy operator’s stock after acquiring an additional 5,335 shares during the period. Twin Capital Management Inc.’s holdings in CVS Health were worth $2,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVS. Live Oak Investment Partners purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $25,000. Atticus Wealth Management LLC raised its holdings in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC raised its holdings in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. PCA Investment Advisory Services Inc. purchased a new stake in CVS Health during the 2nd quarter valued at $37,000. Finally, ZRC Wealth Management LLC raised its holdings in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CVS shares. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report 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. Wells Fargo & Company cut their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Finally, HSBC initiated coverage on CVS Health in a research report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Transactions at CVS Health

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

CVS Health Stock Up 0.6 %

CVS Health stock traded up $0.39 during midday trading on Thursday, reaching $68.99. The company’s stock had a trading volume of 4,103,447 shares, compared to its average volume of 10,812,391. The stock’s 50-day simple moving average is $75.53 and its 200-day simple moving average is $73.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The stock has a market capitalization of $86.96 billion, a P/E ratio of 10.71, a PEG ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period last year, the business posted $1.99 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is 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.