Paradigm Asset Management Co. LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

by · The Markets Daily

Paradigm Asset Management Co. LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 37.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,900 shares of the pharmacy operator’s stock after selling 7,700 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in CVS Health were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CVS. Assetmark Inc. grew its stake in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the period. Cullinan Associates Inc. grew its position in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its holdings in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVS shares. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Barclays boosted their price target on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group dropped their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Check Out Our Latest Analysis on CVS Health

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. 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 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.

CVS Health (NYSE:CVS – Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. 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 announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. 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 payout ratio is 72.68%.

Insider Buying and Selling at CVS Health

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. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Profile

(Free Report)

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.

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