Massmutual Trust Co. FSB ADV increased its stake in CVS Health Co. (NYSE:CVS) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,568 shares of the pharmacy operator’s stock after purchasing an additional 1,581 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in CVS Health were worth $7,100,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC raised its stake in shares of CVS Health by 22.4% in the second quarter. ETRADE Capital Management LLC now owns 99,595 shares of the pharmacy operator’s stock worth $6,471,000 after buying an additional 18,214 shares during the period. Sigma Planning Corp lifted its holdings in CVS Health by 6.8% during the third quarter. Sigma Planning Corp now owns 65,037 shares of the pharmacy operator’s stock valued at $3,798,000 after purchasing an additional 4,114 shares in the last quarter. Culbertson A N & Co. Inc. boosted its position in shares of CVS Health by 1.5% in the third quarter. Culbertson A N & Co. Inc. now owns 98,750 shares of the pharmacy operator’s stock worth $5,767,000 after purchasing an additional 1,500 shares during the period. Ellevest Inc. increased its stake in shares of CVS Health by 34.6% in the third quarter. Ellevest Inc. now owns 2,009 shares of the pharmacy operator’s stock worth $117,000 after purchasing an additional 516 shares in the last quarter. Finally, Barings LLC raised its position in shares of CVS Health by 82.5% during the 3rd quarter. Barings LLC now owns 51,070 shares of the pharmacy operator’s stock valued at $2,982,000 after purchasing an additional 23,090 shares during the period. Institutional investors own 68.47% of the company’s stock.
In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the business’s stock in a transaction on Friday, November 13th. The shares were sold at an average price of $70.00, for a total transaction of $499,660.00. Following the transaction, the executive vice president now owns 8,023 shares in the company, valued at $561,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.
A number of equities research analysts have issued reports on CVS shares. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, November 9th. SVB Leerink increased their target price on CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Credit Suisse Group boosted their price target on CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, November 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and a consensus price target of $82.43.
Shares of NYSE CVS traded down $0.21 during mid-day trading on Monday, hitting $67.66. 99,241 shares of the company’s stock traded hands, compared to its average volume of 8,835,302. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. CVS Health Co. has a 1 year low of $52.04 and a 1 year high of $76.44. The company’s 50-day moving average is $62.73 and its two-hundred day moving average is $62.91. The company has a market capitalization of $88.52 billion, a P/E ratio of 11.22, a PEG ratio of 1.54 and a beta of 0.69.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The business had revenue of $67.05 billion for the quarter, compared to the consensus estimate of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. Equities analysts anticipate that CVS Health Co. will post 7.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.96%. CVS Health’s dividend payout ratio is presently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans 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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