Kendall Capital Management Reduces Holdings in CVS Health Co. (NYSE:CVS)

Kendall Capital Management decreased its position in shares of CVS Health Co. (NYSE:CVS) by 52.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,680 shares of the pharmacy operator’s stock after selling 5,163 shares during the quarter. Kendall Capital Management’s holdings in CVS Health were worth $210,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC boosted its stake in shares of CVS Health by 255.7% during the fourth 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 acquired a new stake in shares of CVS Health during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth about $31,000. Finally, Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective 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. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Price Performance

CVS stock opened at $66.34 on Monday. 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 firm has a 50 day moving average of $56.42 and a 200-day moving average of $56.73. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a market cap of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm 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. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on 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 purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.