OLD National Bancorp IN Purchases 7,144 Shares of CVS Health Co. (NYSE:CVS)

OLD National Bancorp IN lifted its position in CVS Health Co. (NYSE:CVS) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,706 shares of the pharmacy operator’s stock after buying an additional 7,144 shares during the period. OLD National Bancorp IN’s holdings in CVS Health were worth $17,839,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in CVS Health by 33.2% in the fourth quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock valued at $17,295,000 after buying an additional 54,616 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of CVS Health by 3.2% during the first quarter. Park Avenue Securities LLC now owns 26,985 shares of the pharmacy operator’s stock worth $2,152,000 after acquiring an additional 827 shares during the period. &PARTNERS bought a new stake in CVS Health in the 1st quarter valued at $430,000. High Net Worth Advisory Group LLC acquired a new position in CVS Health in the 1st quarter worth $203,000. Finally, Steph & Co. increased its holdings in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Price Performance

CVS stock opened at $60.34 on Friday. The company’s 50-day moving average price is $59.80 and its two-hundred day moving average price is $60.53. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $75.75 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that CVS Health Co. will post 6.51 earnings per share 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. This represents a $2.66 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio 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.