Erste Asset Management GmbH Takes $6.11 Million Position in CVS Health Co. (NYSE:CVS)

Erste Asset Management GmbH bought a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,521 shares of the pharmacy operator's stock, valued at approximately $6,109,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% in 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 during the last quarter. Cullinan Associates Inc. raised its holdings in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock worth $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its position in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator's stock worth $8,459,000 after buying an additional 10,453 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of CVS Health in the 2nd quarter valued at $57,584,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator's stock valued at $28,191,000 after buying an additional 24,285 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target on the stock in a research report on Tuesday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada lowered their price objective 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. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, UBS Group raised their price target on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

CVS Health Trading Up 0.2 %

Shares of NYSE:CVS traded up $0.12 during midday trading on Tuesday, reaching $59.20. The company's stock had a trading volume of 9,006,999 shares, compared to its average volume of 11,305,876. The firm has a market cap of $74.50 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54. CVS Health Co. has a 1 year low of $52.71 and a 1 year 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 business has a 50 day moving average price of $59.43 and a 200 day moving average price of $58.80.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm posted $2.21 EPS. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts forecast that CVS Health Co. will post 5.37 EPS for the current 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 $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is presently 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.