Quest Partners LLC Takes $1.83 Million Position in CVS Health Co. (NYSE:CVS)

Quest Partners LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,119 shares of the pharmacy operator's stock, valued at approximately $1,831,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AMG National Trust Bank increased its position in shares of CVS Health by 123.0% during the 3rd quarter. AMG National Trust Bank now owns 113,975 shares of the pharmacy operator's stock worth $7,167,000 after purchasing an additional 62,861 shares in the last quarter. Aljian Capital Management LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth about $694,000. Claro Advisors LLC increased its position in shares of CVS Health by 27.1% during the 3rd quarter. Claro Advisors LLC now owns 12,024 shares of the pharmacy operator's stock worth $756,000 after purchasing an additional 2,563 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of CVS Health during the 3rd quarter worth about $88,000. Finally, BCGM Wealth Management LLC increased its position in CVS Health by 2.1% in the 3rd quarter. BCGM Wealth Management LLC now owns 23,253 shares of the pharmacy operator's stock valued at $1,462,000 after acquiring an additional 476 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock traded down $0.28 during trading on Tuesday, reaching $55.77. The company's stock had a trading volume of 11,493,179 shares, compared to its average volume of 11,375,453. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The business's 50-day moving average price is $59.19 and its 200-day moving average price is $58.60. 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 firm has a market cap of $70.18 billion, a PE ratio of 14.23, a P/E/G ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 earnings per share. Equities analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health's payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, October 11th. 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 note on Tuesday, October 8th. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. TD Cowen raised shares of CVS Health from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $66.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and a consensus price target of $72.78.

About CVS Health

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.