Founders Capital Management Takes Position in CVS Health Corp (NYSE:CVS)

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Founders Capital Management bought a new stake in shares of CVS Health Corp (NYSE:CVS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 503 shares of the pharmacy operator’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signet Financial Management LLC boosted its stake in shares of CVS Health by 8.4% during the third quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock valued at $363,000 after purchasing an additional 391 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of CVS Health in the third quarter valued at about $22,738,000. Regal Investment Advisors LLC raised its holdings in shares of CVS Health by 349.5% in the third quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock valued at $2,717,000 after acquiring an additional 33,491 shares in the last quarter. River & Mercantile Asset Management LLP raised its holdings in shares of CVS Health by 17.5% in the second quarter. River & Mercantile Asset Management LLP now owns 154,572 shares of the pharmacy operator’s stock valued at $8,425,000 after acquiring an additional 23,061 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of CVS Health in the third quarter valued at about $41,422,000. 76.67% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the sale, the chief executive officer now owns 703,497 shares in the company, valued at $52,614,540.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 57,563 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total value of $4,180,800.69. Following the sale, the chief operating officer now owns 102,608 shares in the company, valued at approximately $7,452,419.04. The disclosure for this sale can be found here. Insiders have sold 427,786 shares of company stock worth $31,726,338 in the last 90 days. Insiders own 0.53% of the company’s stock.

Several analysts recently weighed in on the company. Citigroup lifted their price objective on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. UBS Group restated a “buy” rating and issued a $78.00 price objective on shares of CVS Health in a report on Thursday, November 7th. Royal Bank of Canada assumed coverage on CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective for the company. Raymond James restated a “strong-buy” rating and issued a $90.00 price objective (up from $80.00) on shares of CVS Health in a report on Wednesday, December 4th. Finally, SunTrust Banks lifted their price objective on CVS Health to $85.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.43.

Shares of CVS Health stock opened at $71.43 on Friday. The company has a market capitalization of $95.66 billion, a PE ratio of 21.13, a P/E/G ratio of 1.57 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92. The company has a 50-day simple moving average of $74.09 and a two-hundred day simple moving average of $66.22. CVS Health Corp has a one year low of $51.72 and a one year high of $77.03.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was up 36.5% on a year-over-year basis. On average, equities analysts predict that CVS Health Corp will post 7.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.80%. CVS Health’s payout ratio is 28.25%.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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