Meeder Asset Management Inc. Has $647,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Meeder Asset Management Inc. increased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 2,925.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,285 shares of the pharmacy operator's stock after purchasing an additional 9,945 shares during the period. Meeder Asset Management Inc.'s holdings in CVS Health were worth $647,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVS. Assetmark Inc. increased its holdings in CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health during the 2nd quarter valued at $57,584,000. Oppenheimer Asset Management Inc. increased its position in CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator's stock worth $28,191,000 after buying an additional 24,285 shares in the last quarter. Finally, CX Institutional lifted its position in shares of CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator's stock valued at $4,691,000 after acquiring an additional 65,259 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research note 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. Truist Financial reiterated a "buy" rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research report on Wednesday. Wells Fargo & Company upgraded shares of CVS Health from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $60.00 to $66.00 in a report on Monday. Finally, StockNews.com downgraded shares of CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.28.

CVS Health Trading Up 1.9 %

CVS traded up $1.06 during mid-day trading on Wednesday, hitting $56.83. The stock had a trading volume of 11,334,702 shares, compared to its average volume of 11,378,567. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm has a market capitalization of $71.52 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.92 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 stock's fifty day simple moving average is $59.18 and its 200-day simple moving average is $58.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 annualized dividend and a yield of 4.68%. CVS Health's dividend payout ratio (DPR) is presently 67.51%.

About CVS Health

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.