Intech Investment Management LLC boosted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 70.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,520 shares of the pharmacy operator's stock after buying an additional 39,919 shares during the period. Intech Investment Management LLC's holdings in CVS Health were worth $6,069,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CVS. Assetmark Inc. increased its position in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock worth $25,781,000 after purchasing an additional 36,132 shares during the last quarter. Cullinan Associates Inc. increased its holdings in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock worth $7,125,000 after buying an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health during the 2nd quarter valued at about $57,584,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator's stock valued at $28,191,000 after acquiring an additional 24,285 shares during the last quarter. Finally, CX Institutional grew its position in CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator's stock worth $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CVS. UBS Group raised their price objective on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial reissued a "buy" rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.28.
CVS opened at $58.01 on Friday. The firm has a market capitalization of $73.00 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business's 50-day moving average is $59.21 and its two-hundred day moving average is $58.59. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. Research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. CVS Health's payout ratio is 67.51%.
CVS Health 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.
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