RBF Capital LLC cut its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 50.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the pharmacy operator's stock after selling 10,000 shares during the period. RBF Capital LLC's holdings in CVS Health were worth $629,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock valued at $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in CVS Health during the 3rd quarter valued at approximately $121,987,000. Pathway Financial Advisers LLC increased its stake in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator's stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. Institutional investors own 80.66% of the company's stock.
Wall Street Analyst Weigh In
CVS has been the topic of several recent research reports. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target for the company in a research note on Tuesday. Finally, TD Cowen raised 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.50.
Check Out Our Latest Report on CVS
CVS Health Price Performance
NYSE CVS traded down $1.19 during trading hours on Thursday, reaching $56.86. The company's stock had a trading volume of 4,475,342 shares, compared to its average volume of 11,261,369. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company's 50-day moving average is $59.43 and its two-hundred day moving average is $58.81. The firm has a market capitalization of $71.55 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.01 and a beta of 0.54.
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 (EPS) 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 analysts' expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 EPS. On average, equities analysts predict that CVS Health Co. will post 5.37 EPS for the current year.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's payout ratio is 67.51%.
About CVS Health
(
Free Report)
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.
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