Pacer Advisors Inc. increased its position in CVS Health Co. (NYSE:CVS - Free Report) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 633,045 shares of the pharmacy operator's stock after acquiring an additional 15,889 shares during the period. Pacer Advisors Inc. owned about 0.05% of CVS Health worth $39,806,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new position in CVS Health in the 3rd quarter worth about $1,013,000. Cypress Capital Group raised its holdings in shares of CVS Health by 5.1% during the third quarter. Cypress Capital Group now owns 6,654 shares of the pharmacy operator's stock valued at $418,000 after purchasing an additional 320 shares during the last quarter. Landscape Capital Management L.L.C. lifted its position in CVS Health by 45.4% during the third quarter. Landscape Capital Management L.L.C. now owns 75,524 shares of the pharmacy operator's stock valued at $4,749,000 after purchasing an additional 23,594 shares during the period. Intech Investment Management LLC boosted its holdings in CVS Health by 70.5% in the third quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator's stock worth $6,069,000 after purchasing an additional 39,919 shares during the last quarter. Finally, Payden & Rygel purchased a new stake in CVS Health during the 3rd quarter valued at $6,282,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Price Performance
Shares of NYSE:CVS traded up $0.91 during midday trading on Friday, reaching $58.01. 10,428,506 shares of the company were exchanged, compared to its average volume of 11,356,283. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market cap of $73.00 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. The business's fifty day moving average is $59.21 and its two-hundred day moving average is $58.59. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25.
CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm posted $2.21 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 5.43 earnings per share for the current year.
CVS Health Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio is presently 67.51%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Cantor Fitzgerald restated a "neutral" rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $72.28.
Check Out Our Latest Research Report on CVS
CVS Health Profile
(
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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