Readystate Asset Management LP Invests $1.13 Million in CVS Health Co. (NYSE:CVS)

Readystate Asset Management LP purchased a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,931 shares of the pharmacy operator's stock, valued at approximately $1,128,000.

Other hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC grew its position in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CVS Health by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator's stock worth $443,301,000 after buying an additional 107,977 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock worth $310,722,000 after buying an additional 1,327,855 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock traded down $1.20 during trading hours on Thursday, reaching $56.85. The stock had a trading volume of 4,166,354 shares, compared to its average volume of 11,260,889. The stock's 50 day moving average is $59.43 and its 200 day moving average is $58.81. The firm has a market capitalization of $71.54 billion, a PE ratio of 14.73, a PEG ratio of 1.01 and a beta of 0.54. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health's revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. Equities analysts expect that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is currently 67.51%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVS. Truist Financial reiterated a "buy" rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. 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. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Barclays cut their price objective on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average 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.