Humankind Investments LLC Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

Humankind Investments LLC boosted its position in CVS Health Co. (NYSE:CVS) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,655 shares of the pharmacy operator’s stock after purchasing an additional 1,621 shares during the quarter. Humankind Investments LLC’s holdings in CVS Health were worth $613,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gotham Asset Management LLC lifted its position in CVS Health by 119.3% during the fourth quarter. Gotham Asset Management LLC now owns 230,533 shares of the pharmacy operator’s stock valued at $10,349,000 after acquiring an additional 125,434 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of CVS Health during the 4th quarter valued at $39,952,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in shares of CVS Health in the 4th quarter worth $121,742,000. Deutsche Bank AG grew its stake in CVS Health by 46.0% during the 4th quarter. Deutsche Bank AG now owns 4,379,753 shares of the pharmacy operator’s stock worth $196,607,000 after buying an additional 1,379,932 shares during the last quarter. Finally, Dimension Capital Management LLC purchased a new stake in CVS Health in the fourth quarter valued at about $342,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVS. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Robert W. Baird lifted their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. StockNews.com upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, Barclays lifted their target price on CVS Health from $73.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Three equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.81.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $66.98 on Friday. The company has a market capitalization of $84.73 billion, a P/E ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The business’s 50 day moving average is $66.96 and its two-hundred day moving average is $59.04. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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 firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. Analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. 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 3.97%. CVS Health’s payout ratio is currently 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.