Hartford Financial Management Inc. raised its position in CVS Health Corp (NYSE:CVS) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,272 shares of the pharmacy operator’s stock after buying an additional 1,160 shares during the period. Hartford Financial Management Inc.’s holdings in CVS Health were worth $2,118,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. acquired a new position in CVS Health in the second quarter valued at about $32,000. Exchange Traded Concepts LLC acquired a new position in CVS Health in the second quarter valued at about $41,000. Keebeck Wealth Management LLC acquired a new position in CVS Health in the second quarter valued at about $42,000. Campbell Wealth Management acquired a new position in CVS Health in the second quarter valued at about $49,000. Finally, Balentine LLC acquired a new position in CVS Health in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.
A number of equities analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Piper Sandler started coverage on shares of CVS Health in a research note on Thursday, September 17th. They issued an “overweight” rating and a $72.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a research note on Thursday, July 9th. Finally, SVB Leerink boosted their target price on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $81.94.
NYSE CVS traded up $0.27 during trading on Friday, reaching $59.59. 6,822,607 shares of the stock traded hands, compared to its average volume of 8,692,488. The firm has a market cap of $77.99 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. The stock’s 50-day moving average price is $59.23 and its 200 day moving average price is $62.28. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. CVS Health Corp has a fifty-two week low of $52.04 and a fifty-two week high of $77.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.71. The firm had revenue of $65.30 billion during the quarter, compared to analysts’ expectations of $64.29 billion. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. Analysts anticipate that CVS Health Corp will post 7.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, October 21st. CVS Health’s dividend payout ratio is currently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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