UniSuper Management Pty Ltd Grows Stock Position in CVS Health Co. (NYSE:CVS)

UniSuper Management Pty Ltd increased its stake in shares of CVS Health Co. (NYSE:CVS) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,677 shares of the pharmacy operator’s stock after buying an additional 19,203 shares during the quarter. UniSuper Management Pty Ltd’s holdings in CVS Health were worth $4,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CVS Health by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock valued at $16,424,000 after buying an additional 9,418 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of CVS Health by 0.3% during the third quarter. Fiduciary Trust Co now owns 108,151 shares of the pharmacy operator’s stock valued at $6,801,000 after acquiring an additional 375 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CVS Health by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock valued at $443,301,000 after purchasing an additional 107,977 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in shares of CVS Health by 10.2% in the third quarter. Vinva Investment Management Ltd now owns 56,446 shares of the pharmacy operator’s stock worth $3,465,000 after buying an additional 5,242 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $1,369,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CVS shares. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Argus set a $77.00 price objective on CVS Health in a research note on Tuesday, February 18th. 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 research note on Thursday, February 13th. Finally, Truist Financial increased their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

CVS Health Trading Down 0.7 %

Shares of CVS stock opened at $67.13 on Friday. The company has a market capitalization of $84.64 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.98 and a beta of 0.54. 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 Co. has a 12-month low of $43.56 and a 12-month high of $79.98. The firm has a 50-day moving average price of $62.12 and a 200 day moving average price of $57.67.

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, 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%. Research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio is currently 72.68%.

CVS Health Company 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.