Marathon Trading Investment Management LLC cut its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 41.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,900 shares of the pharmacy operator's stock after selling 10,000 shares during the period. Marathon Trading Investment Management LLC's holdings in CVS Health were worth $874,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Capital World Investors increased its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator's stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors lifted its holdings in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator's stock valued at $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors boosted its position in CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator's stock valued at $1,048,351,000 after buying an additional 184,297 shares during the period. Pzena Investment Management LLC increased its position in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator's stock valued at $555,406,000 after purchasing an additional 389,166 shares during the period. 80.66% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
CVS has been the topic of a number of research reports. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a "buy" rating in a report on Friday, October 11th. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and a consensus target price of $72.44.
Check Out Our Latest Report on CVS Health
CVS Health Stock Down 3.4 %
CVS traded down $1.90 on Friday, reaching $53.19. The company's stock had a trading volume of 16,695,415 shares, compared to its average volume of 13,766,502. The stock has a 50 day moving average of $59.23 and a two-hundred day moving average of $58.66. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $66.93 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 0.55.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts forecast that CVS Health Co. will post 5.48 EPS for the current fiscal year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) 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.
Featured Articles
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
