Voleon Capital Management LP Invests $388,000 in CVS Health Co. (NYSE:CVS)

Voleon Capital Management LP bought a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel.com reports. The firm bought 8,634 shares of the pharmacy operator’s stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Morse Asset Management Inc acquired a new stake in CVS Health in the 3rd quarter worth about $409,000. World Investment Advisors LLC grew its holdings in CVS Health by 280.7% in the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock valued at $1,732,000 after purchasing an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in CVS Health during the third quarter worth approximately $2,071,000. Tidal Investments LLC raised its stake in CVS Health by 52.2% during the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock worth $7,043,000 after purchasing an additional 38,408 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of CVS Health by 4.8% in 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 last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 4.1 %

NYSE:CVS opened at $69.42 on Friday. The firm has a market capitalization of $87.52 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. 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 stock has a 50 day moving average of $66.64 and a 200-day moving average of $58.87.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.83%. CVS Health’s payout ratio is currently 72.68%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVS. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.83.

Insider Activity

In other CVS Health 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 sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.22% 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.