Westfield Capital Management Co. LP Takes Position in CVS Health Co. (NYSE:CVS)

Westfield Capital Management Co. LP bought a new position in CVS Health Co. (NYSE:CVS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,549 shares of the pharmacy operator's stock, valued at approximately $663,000.

Several other hedge funds have also modified their holdings of CVS. Waverly Advisors LLC boosted its holdings in CVS Health by 25.0% in the first quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator's stock worth $1,121,000 after purchasing an additional 2,815 shares during the period. Janus Henderson Group PLC boosted its position in shares of CVS Health by 2.5% in the first quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator's stock valued at $14,143,000 after acquiring an additional 4,318 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of CVS Health by 29.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 79,876 shares of the pharmacy operator's stock valued at $6,371,000 after acquiring an additional 18,093 shares during the period. Semmax Financial Advisors Inc. increased its stake in shares of CVS Health by 28.0% in the first quarter. Semmax Financial Advisors Inc. now owns 14,157 shares of the pharmacy operator's stock valued at $1,129,000 after buying an additional 3,099 shares in the last quarter. Finally, KLCM Advisors Inc. increased its position in CVS Health by 53.8% in the first quarter. KLCM Advisors Inc. now owns 4,724 shares of the pharmacy operator's stock worth $377,000 after purchasing an additional 1,652 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS stock traded down $1.06 on Tuesday, hitting $59.02. 7,884,767 shares of the stock traded hands, compared to its average volume of 11,362,798. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The firm has a 50 day simple moving average of $59.25 and a two-hundred day simple moving average of $58.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same period last year, the company posted $2.21 EPS. The business's revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 dividend on an annualized basis and a yield of 4.51%. CVS Health's payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several research firms have commented on CVS. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.