Amundi Purchases 1,165,992 Shares of CVS Health Co. (NYSE:CVS)

Amundi boosted its position in CVS Health Co. (NYSE:CVS) by 19.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,059,915 shares of the pharmacy operator’s stock after buying an additional 1,165,992 shares during the quarter. Amundi’s holdings in CVS Health were worth $324,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC boosted its position 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 buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc boosted its position in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 1.7 %

CVS opened at $66.34 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. 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 company has a market cap of $83.64 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a fifty day moving average price of $56.42 and a two-hundred day moving average price of $56.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results 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 1.24% and a return on equity of 9.11%. Analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVS shares. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. 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 report 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 report on Tuesday, February 18th. UBS Group cut their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents 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 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.