Concurrent Investment Advisors LLC Decreases Position in CVS Health Co. (NYSE:CVS)

Concurrent Investment Advisors LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,248 shares of the pharmacy operator’s stock after selling 13,563 shares during the period. Concurrent Investment Advisors LLC’s holdings in CVS Health were worth $2,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth approximately $32,000. 80.66% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Wolfe Research raised their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Price Performance

Shares of NYSE:CVS opened at $63.42 on Friday. The company’s fifty day moving average is $52.39 and its 200 day moving average is $56.23. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The stock has a market cap of $79.95 billion, a PE ratio of 17.33, a PEG ratio of 0.99 and a beta of 0.61. 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 issued 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 net margin of 1.24% and a return on equity of 9.11%. Research analysts anticipate that CVS Health Co. will post 5.9 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.