Zurcher Kantonalbank Zurich Cantonalbank Has $16.42 Million Stock Position in CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,194 shares of the pharmacy operator's stock after purchasing an additional 9,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CVS Health were worth $16,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVS. RPg Family Wealth Advisory LLC bought a new stake in CVS Health in the 3rd quarter valued at about $40,000. Thematics Asset Management boosted its stake in shares of CVS Health by 1.9% in the third quarter. Thematics Asset Management now owns 57,376 shares of the pharmacy operator's stock valued at $3,608,000 after buying an additional 1,064 shares during the period. Avestar Capital LLC acquired a new stake in CVS Health during the third quarter worth approximately $326,000. Quantbot Technologies LP bought a new position in CVS Health during the 3rd quarter worth $6,902,000. Finally, West Tower Group LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $302,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.2 %

Shares of CVS stock traded down $0.11 during trading hours on Friday, hitting $59.85. 3,947,743 shares of the company's stock traded hands, compared to its average volume of 12,709,454. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a market cap of $75.32 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.02 and a beta of 0.55. The stock's 50 day simple moving average is $59.36 and its 200 day simple moving average is $58.75.

CVS Health (NYSE:CVS - Get Free Report) last announced 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. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio is presently 67.51%.

Analysts Set New Price Targets

CVS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a report on Monday, November 25th. One research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.