Jacobs Levy Equity Management Inc. Takes $7.23 Million Position in CVS Health Co. (NYSE:CVS)

Jacobs Levy Equity Management Inc. acquired a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 115,032 shares of the pharmacy operator's stock, valued at approximately $7,233,000.

Other hedge funds have also recently bought and sold shares of the company. CX Institutional increased its position in CVS Health by 38.3% during the second quarter. CX Institutional now owns 9,350 shares of the pharmacy operator's stock worth $552,000 after buying an additional 2,589 shares in the last quarter. Wolff Wiese Magana LLC increased its position in CVS Health by 18.9% during the second quarter. Wolff Wiese Magana LLC now owns 1,429 shares of the pharmacy operator's stock worth $84,000 after buying an additional 227 shares in the last quarter. Gateway Investment Advisers LLC increased its position in CVS Health by 1.1% during the second quarter. Gateway Investment Advisers LLC now owns 368,895 shares of the pharmacy operator's stock worth $21,787,000 after buying an additional 3,900 shares in the last quarter. Alterna Wealth Management Inc. increased its position in CVS Health by 7.8% during the second quarter. Alterna Wealth Management Inc. now owns 10,645 shares of the pharmacy operator's stock worth $629,000 after buying an additional 772 shares in the last quarter. Finally, Oak Asset Management LLC increased its position in CVS Health by 0.8% during the second quarter. Oak Asset Management LLC now owns 84,672 shares of the pharmacy operator's stock worth $5,001,000 after buying an additional 644 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 2.8 %

Shares of NYSE CVS traded down $1.59 during midday trading on Friday, reaching $55.27. 9,628,385 shares of the company's stock were exchanged, compared to its average volume of 11,275,057. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The stock has a market capitalization of $69.55 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business's fifty day moving average price is $59.39 and its two-hundred day moving average price is $58.79.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

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 4.81%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. StockNews.com cut CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective on the stock in a report on Tuesday. Finally, UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

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.