Polymer Capital Management US LLC Makes New $207,000 Investment in CVS Health Co. (NYSE:CVS)

Polymer Capital Management US LLC bought a new stake in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,608 shares of the pharmacy operator’s stock, valued at approximately $207,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of CVS Health during the 4th quarter worth about $839,574,000. Davis Selected Advisers raised its stake in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CVS Health during the 4th quarter worth $116,033,000. Finally, ARGA Investment Management LP raised its position in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after buying an additional 2,371,563 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $67.64 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $64.03 and its two-hundred day moving average is $58.18. The firm has a market capitalization of $85.28 billion, a P/E ratio of 18.48, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $74.85.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Analysts Set New Price Targets

A number of research firms have issued reports on CVS. Truist Financial boosted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.