Sierra Capital LLC Purchases 3,800 Shares of CVS Health Co. (NYSE:CVS)

Sierra Capital LLC raised its position in CVS Health Co. (NYSE:CVS) by 51.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,193 shares of the pharmacy operator’s stock after acquiring an additional 3,800 shares during the period. Sierra Capital LLC’s holdings in CVS Health were worth $704,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C acquired a new position in shares of CVS Health during the 2nd quarter worth approximately $57,584,000. CX Institutional increased its holdings in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of CVS Health by 30.1% during the 2nd quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after acquiring an additional 23,213 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of CVS Health by 7.2% during the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after acquiring an additional 17,206 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Stock Down 2.2 %

Shares of NYSE:CVS traded down $1.27 during mid-day trading on Tuesday, hitting $56.90. 5,756,991 shares of the company traded hands, compared to its average volume of 11,211,516. The stock has a market cap of $71.43 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a 50-day moving average price of $59.85 and a two-hundred day moving average price of $60.32.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is currently 46.75%.

CVS Health Company 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.