CVS Health Co. (NYSE:CVS) Shares Purchased by Searle & CO.

Searle & CO. lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,130 shares of the pharmacy operator’s stock after buying an additional 300 shares during the quarter. Searle & CO.’s holdings in CVS Health were worth $1,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVS. Wellington Management Group LLP increased its holdings in shares of CVS Health by 33.2% in the 4th quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock valued at $17,295,000 after acquiring an additional 54,616 shares during the period. AdvisorNet Financial Inc lifted its position in CVS Health by 30.6% during the 1st quarter. AdvisorNet Financial Inc now owns 7,005 shares of the pharmacy operator’s stock worth $559,000 after acquiring an additional 1,642 shares during the period. Annex Advisory Services LLC acquired a new position in shares of CVS Health in the first quarter valued at approximately $300,000. First Financial Corp IN lifted its holdings in shares of CVS Health by 33.7% during the first quarter. First Financial Corp IN now owns 1,622 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 409 shares during the period. Finally, Atlas Capital Advisors LLC grew its position in CVS Health by 20.2% in the 1st quarter. Atlas Capital Advisors LLC now owns 5,101 shares of the pharmacy operator’s stock valued at $407,000 after buying an additional 858 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI upped their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.89.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.12 during mid-day trading on Wednesday, reaching $56.97. 3,593,324 shares of the company traded hands, compared to its average volume of 11,218,813. The stock has a fifty day simple moving average of $59.87 and a 200-day simple moving average of $60.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a market cap of $71.52 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

CVS Health 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.