TOMS Capital Investment Management LP Invests $121.99 Million in CVS Health Co. (NYSE:CVS)

TOMS Capital Investment Management LP bought a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,940,000 shares of the pharmacy operator's stock, valued at approximately $121,987,000. CVS Health accounts for about 4.5% of TOMS Capital Investment Management LP's holdings, making the stock its 4th biggest position. TOMS Capital Investment Management LP owned 0.15% of CVS Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $33,000. Finally, First Community Trust NA increased its holdings in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock traded down $0.70 during midday trading on Monday, reaching $59.15. 4,505,795 shares of the stock were exchanged, compared to its average volume of 11,284,602. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The firm has a market cap of $74.43 billion, a PE ratio of 15.02, a PEG ratio of 1.02 and a beta of 0.55. The company's fifty day moving average is $59.36 and its 200-day moving average is $58.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.50%. CVS Health's dividend payout ratio (DPR) is 67.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company upgraded shares of CVS Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. StockNews.com downgraded CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Finally, Truist Financial restated a "buy" rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.33.

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.