MTM Investment Management LLC Has $636,000 Stake in CVS Health Co. (NYSE:CVS)

MTM Investment Management LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,840 shares of the pharmacy operator’s stock after selling 579 shares during the period. MTM Investment Management LLC’s holdings in CVS Health were worth $636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health in the 3rd quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $32,000. First Community Trust NA boosted its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health during the third quarter worth about $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVS shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, 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 note on Friday, October 4th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Stock Performance

Shares of CVS stock opened at $55.82 on Wednesday. The company has a market capitalization of $70.24 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a 50-day simple moving average of $59.18 and a 200 day simple moving average of $58.60.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

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.