Kennondale Capital Management LLC Buys New Position in CVS Health Co. (NYSE:CVS)

Kennondale Capital Management LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,787 shares of the pharmacy operator’s stock, valued at approximately $888,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the fourth quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter worth approximately $31,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CVS shares. Truist Financial lifted their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target 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. UBS Group decreased their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Barclays lifted their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following 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 disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $66.65 on Tuesday. The stock has a market cap of $84.03 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The firm’s fifty day simple moving average is $58.89 and its 200 day simple moving average is $57.05. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. As a group, research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.99%. 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.