Monument Capital Management Acquires New Stake in CVS Health Co. (NYSE:CVS)

Monument Capital Management acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,622 shares of the pharmacy operator’s stock, valued at approximately $207,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in CVS Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock worth $8,180,295,000 after buying an additional 485,744 shares during the period. FMR LLC lifted its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the period. Northern Trust Corp lifted its position in CVS Health by 2.2% during the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after buying an additional 305,564 shares during the period. Royal Bank of Canada lifted its position in CVS Health by 2.2% during the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after buying an additional 303,512 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,717,825 shares of the pharmacy operator’s stock worth $864,821,000 after buying an additional 324,391 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVS shares. Wells Fargo & Company reduced their target price 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. Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Piper Sandler raised their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $69.61 on Tuesday. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The business’s 50-day simple moving average is $75.13 and its 200 day simple moving average is $73.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a market cap of $87.74 billion, a P/E ratio of 10.78, a PEG ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share 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 firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the firm earned $1.99 EPS. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.82%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by insiders.

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.