Birch Capital Management LLC Has $5.36 Million Stock Holdings in CVS Health Co. (NYSE:CVS)


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Birch Capital Management LLC lifted its position in CVS Health Co. (NYSE:CVS) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,224 shares of the pharmacy operator’s stock after buying an additional 1,032 shares during the period. CVS Health comprises 3.9% of Birch Capital Management LLC’s holdings, making the stock its 6th largest position. Birch Capital Management LLC’s holdings in CVS Health were worth $5,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox increased its holdings in CVS Health by 0.5% during the 4th quarter. Dodge & Cox now owns 15,960,473 shares of the pharmacy operator’s stock worth $1,090,100,000 after purchasing an additional 77,629 shares in the last quarter. Norges Bank bought a new position in CVS Health during the 4th quarter worth about $964,912,000. Dimensional Fund Advisors LP increased its holdings in CVS Health by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,152,434 shares of the pharmacy operator’s stock worth $829,977,000 after purchasing an additional 32,967 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in CVS Health by 33.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,118,403 shares of the pharmacy operator’s stock worth $691,087,000 after purchasing an additional 2,525,912 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in CVS Health by 3.4% during the 4th quarter. Nordea Investment Management AB now owns 9,123,988 shares of the pharmacy operator’s stock worth $623,168,000 after purchasing an additional 296,234 shares in the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.

Shares of CVS Health stock traded down $0.36 on Thursday, reaching $74.13. 25,990 shares of the company were exchanged, compared to its average volume of 7,071,797. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $97.21 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.72 and a beta of 0.82. CVS Health Co. has a one year low of $55.36 and a one year high of $77.23. The company has a 50-day moving average of $72.43 and a 200 day moving average of $68.51.

CVS Health (NYSE:CVS) last posted its earnings results on Monday, February 15th. The pharmacy operator reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $69.55 billion for the quarter, compared to analyst estimates of $68.67 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. During the same period in the previous year, the firm earned $1.73 EPS. Analysts predict that CVS Health Co. will post 7.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, April 22nd. CVS Health’s payout ratio is presently 28.25%.

In other CVS Health news, EVP Lisa Bisaccia sold 25,177 shares of the company’s stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $77.00, for a total value of $1,938,629.00. Following the transaction, the executive vice president now directly owns 71,765 shares of the company’s stock, valued at approximately $5,525,905. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Larry J. Merlo sold 270,650 shares of the company’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $74.73, for a total value of $20,225,674.50. Following the completion of the transaction, the director now directly owns 794,676 shares in the company, valued at $59,386,137.48. The disclosure for this sale can be found here. Insiders have sold a total of 594,375 shares of company stock worth $44,673,602 over the last three months. 0.46% of the stock is owned by insiders.

CVS has been the subject of a number of research reports. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, January 8th. Guggenheim reaffirmed a “neutral” rating on shares of CVS Health in a research report on Tuesday, March 23rd. Finally, SVB Leerink increased their price target on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research report on Monday, December 14th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. CVS Health has an average rating of “Buy” and a consensus target price of $82.08.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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

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