Mystic Asset Management Inc. Buys 14,820 Shares of CVS Health Co. (NYSE:CVS)

Mystic Asset Management Inc. raised its stake in CVS Health Co. (NYSE:CVS) by 86.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,945 shares of the pharmacy operator’s stock after acquiring an additional 14,820 shares during the quarter. Mystic Asset Management Inc.’s holdings in CVS Health were worth $1,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth about $25,000. Ridgewood Investments LLC grew its stake in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter valued at approximately $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter worth approximately $31,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $66.65 on Tuesday. The company has a market capitalization of $84.03 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.98 and a beta of 0.54. The firm’s 50 day simple moving average is $58.89 and its 200 day simple moving average is $57.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last announced 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%. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVS. Wells Fargo & Company lifted their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.83.

Insider Activity

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $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 can be accessed 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 value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, 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. 0.24% of the stock is currently owned by company insiders.

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.