Rhenman & Partners Asset Management AB Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Rhenman & Partners Asset Management AB grew its stake in CVS Health Co. (NYSE:CVS) by 45.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 267,500 shares of the pharmacy operator’s stock after purchasing an additional 83,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in CVS Health were worth $12,008,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its stake in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Hall Laurie J Trustee boosted its holdings in CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after buying an additional 11,468 shares in the last quarter. B&D White Capital Company LLC acquired a new position in shares of CVS Health during the 4th quarter worth approximately $417,000. Finally, Watts Gwilliam & Co. LLC lifted its stake in CVS Health by 9.8% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 7,302 shares of the pharmacy operator’s stock valued at $334,000 after buying an additional 650 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated 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 owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health 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. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

CVS Health Price Performance

Shares of NYSE:CVS opened at $63.54 on Friday. The company has a market cap of $80.11 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $75.12. 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 company’s fifty day moving average is $63.47 and its two-hundred day moving average is $58.01.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. Equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVS shares. Evercore ISI upped their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Barclays increased their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Finally, Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Four equities research 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. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

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.