CVS Health Co. (NYSE:CVS) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of CVS Health Co. (NYSE:CVS) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,347 shares of the pharmacy operator’s stock after purchasing an additional 1,315 shares during the quarter. GAMMA Investing LLC’s holdings in CVS Health were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pzena Investment Management LLC lifted 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 in the last quarter. Capital International Investors lifted its stake in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares in the last quarter. Capital World Investors lifted its stake in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of CVS Health in the first quarter worth about $110,816,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CVS shares. Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. 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 note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.05.

CVS Health Stock Performance

Shares of CVS stock opened at $65.88 on Wednesday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm has a market capitalization of $82.70 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The business has a 50 day simple moving average of $58.67 and a 200 day simple moving average of $61.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. CVS Health’s dividend payout ratio (DPR) is 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.