Quantbot Technologies LP Makes New Investment in CVS Health Co. (NYSE:CVS)

Quantbot Technologies LP acquired a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 109,764 shares of the pharmacy operator's stock, valued at approximately $6,902,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the third quarter worth $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $32,000. First Community Trust NA raised its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVS shares. StockNews.com downgraded shares of CVS Health from a "hold" rating to a "sell" rating in a research report on Thursday, November 14th. Royal Bank of Canada dropped their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a research report on Friday, August 9th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.33.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $1.06 during mid-day trading on Tuesday, reaching $59.02. The company had a trading volume of 7,884,767 shares, compared to its average volume of 11,362,798. The company's 50-day moving average price is $59.25 and its 200-day moving average price is $58.67. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid 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 yield of 4.51%. CVS Health's dividend payout ratio is presently 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.