Geode Capital Management LLC Buys 461,569 Shares of CVS Health Co. (NYSE:CVS)

Geode Capital Management LLC lifted its holdings in CVS Health Co. (NYSE:CVS) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,361,673 shares of the pharmacy operator’s stock after acquiring an additional 461,569 shares during the period. Geode Capital Management LLC’s holdings in CVS Health were worth $1,651,997,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVS. Pzena Investment Management LLC boosted its stake in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp boosted its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP bought a new position in CVS Health during the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC boosted its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Truist Financial restated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Trading Down 1.6 %

CVS opened at $55.15 on Wednesday. The stock’s fifty day moving average is $59.21 and its two-hundred day moving average is $58.78. The company has a market capitalization of $69.40 billion, a P/E ratio of 14.00, a PEG ratio of 0.95 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. 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 released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping 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%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.82%. CVS Health’s payout ratio is currently 67.51%.

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.