Investment Management Corp of Ontario Raises Holdings in CVS Health Co. (NYSE:CVS)

Investment Management Corp of Ontario increased its stake in CVS Health Co. (NYSE:CVS - Free Report) by 49.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,636 shares of the pharmacy operator's stock after acquiring an additional 13,700 shares during the period. Investment Management Corp of Ontario's holdings in CVS Health were worth $2,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the 3rd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the 3rd quarter valued at about $32,000. First Community Trust NA increased its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after purchasing an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $33,000. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVS shares. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a report on Tuesday. Finally, Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

CVS Health Stock Down 2.0 %

CVS stock traded down $1.17 during midday trading on Thursday, hitting $56.88. The company's stock had a trading volume of 9,062,721 shares, compared to its average volume of 11,282,079. The firm's 50-day moving average is $59.39 and its 200-day moving average is $58.79. The company has a market cap of $71.58 billion, a PE ratio of 14.44, a P/E/G ratio of 1.01 and a beta of 0.54. 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 Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. On average, equities research analysts forecast that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 4.68%. 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.