CX Institutional Buys 65,259 Shares of CVS Health Co. (NYSE:CVS)

CX Institutional raised its stake in CVS Health Co. (NYSE:CVS) by 698.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,609 shares of the pharmacy operator’s stock after buying an additional 65,259 shares during the period. CX Institutional’s holdings in CVS Health were worth $4,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wedmont Private Capital increased its stake in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 146 shares during the last quarter. Garland Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Silverlake Wealth Management LLC raised its holdings in shares of CVS Health by 1.6% during the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after buying an additional 173 shares in the last quarter. Finally, Plimoth Trust Co. LLC lifted its position in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of recent research reports. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company boosted their target price 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. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Trading Down 3.6 %

NYSE CVS opened at $65.01 on Wednesday. The stock’s fifty day moving average price is $59.45 and its 200-day moving average price is $60.70. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a market cap of $81.61 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates 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 was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. As a group, equities analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.09%. CVS Health’s dividend payout ratio is 46.75%.

About CVS Health

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.