MidAtlantic Capital Management Inc. Buys 437 Shares of CVS Health Co. (NYSE:CVS)

MidAtlantic Capital Management Inc. boosted its position in CVS Health Co. (NYSE:CVS) by 112.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 827 shares of the pharmacy operator’s stock after acquiring an additional 437 shares during the period. MidAtlantic Capital Management Inc.’s holdings in CVS Health were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of CVS Health by 7,567.7% during the 4th 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 in the last quarter. State Street Corp increased its position in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the third quarter worth about $121,987,000. Finally, Pathway Financial Advisers LLC boosted its position in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

NYSE CVS opened at $66.35 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a 50-day moving average of $50.71 and a 200 day moving average of $55.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $83.49 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings data 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 net margin of 1.36% and a return on equity of 10.72%. On average, sell-side analysts forecast that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is currently 72.68%.

Analyst Ratings Changes

A number of research firms have recently commented on CVS. Royal Bank of Canada lowered their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Truist Financial upped their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group lowered their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.28.

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.