Proficio Capital Partners LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

Proficio Capital Partners LLC acquired a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 123,492 shares of the pharmacy operator’s stock, valued at approximately $5,544,000.

Several other large investors have also made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the fourth quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in CVS Health during the third quarter valued at $31,000. Finally, Financial Perspectives Inc increased its holdings in 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 acquiring an additional 466 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Finally, Truist Financial increased their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Down 1.4 %

CVS Health stock opened at $64.82 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market cap of $81.72 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61. The business has a fifty day moving average of $54.74 and a two-hundred day moving average of $56.53. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

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.