Dynamic Technology Lab Private Ltd Takes Position in CVS Health Co. (NYSE:CVS)

Dynamic Technology Lab Private Ltd bought a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,742 shares of the pharmacy operator’s stock, valued at approximately $1,111,000.

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

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $63.54 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $74.85. The firm’s 50-day moving average price is $63.47 and its two-hundred day moving average price is $58.01. 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 stock has a market capitalization of $80.11 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. Evercore ISI increased their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Finally, Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.39.

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.