Turtle Creek Asset Management Inc. Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Turtle Creek Asset Management Inc. reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,952,991 shares of the pharmacy operator’s stock after selling 144,676 shares during the period. CVS Health comprises 2.3% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Turtle Creek Asset Management Inc.’s holdings in CVS Health were worth $87,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the fourth quarter valued at $29,000. Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares during the period. Compass Planning Associates Inc purchased a new position in shares of CVS Health in the fourth quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVS shares. Barclays upped their target price on shares of CVS Health from $73.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Piper Sandler upped their price target 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. Robert W. Baird upped their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, UBS Group upped their price target on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Three 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.94.

CVS Health Stock Up 3.4%

Shares of NYSE:CVS opened at $62.51 on Friday. The stock has a market capitalization of $79.07 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company’s fifty day moving average is $66.57 and its two-hundred day moving average is $59.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

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 analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.26%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price 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 approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated 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 in the company, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company’s stock.

CVS Health 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.