Tidal Investments LLC Sells 7,973 Shares of CVS Health Co. (NYSE:CVS)

Tidal Investments LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,037 shares of the pharmacy operator’s stock after selling 7,973 shares during the period. Tidal Investments LLC’s holdings in CVS Health were worth $4,670,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVS. Whitebox Advisors LLC acquired a new position in CVS Health during the fourth quarter worth $249,000. B&D White Capital Company LLC bought a new stake in shares of CVS Health during the 4th quarter worth about $417,000. Fairfax Financial Holdings Ltd. Can acquired a new position in shares of CVS Health during the 4th quarter valued at about $121,742,000. Lazard Asset Management LLC raised its stake in shares of CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock valued at $192,617,000 after acquiring an additional 293,406 shares in the last quarter. Finally, Seizert Capital Partners LLC raised its stake in shares of CVS Health by 22.8% in the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock valued at $25,566,000 after acquiring an additional 105,708 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Robert W. Baird lifted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Wells Fargo & Company reissued an “overweight” rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Three research 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 data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $74.94.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the firm’s 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Up 1.5%

CVS stock opened at $63.73 on Wednesday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $80.62 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The business’s 50-day simple moving average is $66.48 and its 200 day simple moving average is $59.32.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. On average, research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

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.