Atom Investors LP Takes $1.27 Million Position in CVS Health Co. (NYSE:CVS)

Atom Investors LP bought a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,248 shares of the pharmacy operator's stock, valued at approximately $1,273,000.

Several other hedge funds have also recently made changes to their positions in CVS. Warther Private Wealth LLC raised its stake in shares of CVS Health by 28.7% during the 2nd quarter. Warther Private Wealth LLC now owns 153,369 shares of the pharmacy operator's stock valued at $9,058,000 after purchasing an additional 34,207 shares during the period. CX Institutional raised its stake in shares of CVS Health by 38.3% during the 2nd quarter. CX Institutional now owns 9,350 shares of the pharmacy operator's stock valued at $552,000 after purchasing an additional 2,589 shares during the period. Bourgeon Capital Management LLC raised its holdings in shares of CVS Health by 8.2% in the 2nd quarter. Bourgeon Capital Management LLC now owns 129,002 shares of the pharmacy operator's stock valued at $7,619,000 after acquiring an additional 9,737 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of CVS Health by 2.2% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 82,872 shares of the pharmacy operator's stock valued at $4,894,000 after acquiring an additional 1,757 shares in the last quarter. Finally, BDF Gestion purchased a new stake in shares of CVS Health in the 2nd quarter valued at about $2,897,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock traded down $1.14 during trading hours on Wednesday, hitting $58.05. The company's stock had a trading volume of 7,951,238 shares, compared to its average volume of 11,291,562. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market cap of $73.05 billion, a PE ratio of 14.73, a PEG ratio of 1.01 and a beta of 0.54. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The business has a 50 day moving average price of $59.43 and a two-hundred day moving average price of $58.81.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.58%. CVS Health's dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVS. Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective for the company in a research note on Tuesday. Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

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.