Solel Partners LP Invests $29.73 Million in CVS Health Co. (NYSE:CVS)

Solel Partners LP acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 503,400 shares of the pharmacy operator’s stock, valued at approximately $29,731,000. CVS Health makes up approximately 4.8% of Solel Partners LP’s portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health in the fourth quarter worth approximately $34,000. Steph & Co. raised its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in CVS Health during the fourth quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC purchased a new position in CVS Health in the 4th quarter worth approximately $37,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.1 %

CVS opened at $57.57 on Tuesday. The stock has a market cap of $72.27 billion, a PE ratio of 10.12, a PEG ratio of 0.79 and a beta of 0.53. The business has a 50 day moving average of $58.28 and a 200-day moving average of $62.32. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. Equities research analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.62%. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVS. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Robert W. Baird began coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Barclays decreased their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Company 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.