CVS Health Co. (NYSE:CVS) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its position in shares of CVS Health Co. (NYSE:CVS) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,000 shares of the pharmacy operator’s stock after buying an additional 2,000 shares during the quarter. Royce & Associates LP’s holdings in CVS Health were worth $5,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its position in shares of CVS Health by 7.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,660 shares of the pharmacy operator’s stock valued at $2,117,000 after acquiring an additional 2,472 shares during the period. Metis Global Partners LLC grew its holdings in CVS Health by 1.4% in the third quarter. Metis Global Partners LLC now owns 40,064 shares of the pharmacy operator’s stock valued at $2,519,000 after purchasing an additional 557 shares during the period. Plato Investment Management Ltd raised its stake in shares of CVS Health by 4.0% during the 3rd quarter. Plato Investment Management Ltd now owns 36,020 shares of the pharmacy operator’s stock worth $2,263,000 after buying an additional 1,383 shares during the period. Alexander Randolph Advisory Inc. lifted its position in shares of CVS Health by 7.3% during the 3rd quarter. Alexander Randolph Advisory Inc. now owns 59,602 shares of the pharmacy operator’s stock valued at $3,748,000 after buying an additional 4,035 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in CVS Health by 5.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 99,848 shares of the pharmacy operator’s stock valued at $6,278,000 after acquiring an additional 5,325 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $56.08 on Tuesday. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The business has a fifty day moving average of $59.19 and a two-hundred day moving average of $58.60. The stock has a market cap of $70.57 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. 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 (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for 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%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. As a group, research analysts anticipate that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared 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 4.74%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. 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. TD Cowen upgraded 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 report on Friday, October 4th. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price 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.