Impax Asset Management Group plc Cuts Holdings in CVS Health Co. (NYSE:CVS)

Impax Asset Management Group plc cut its position in CVS Health Co. (NYSE:CVS) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,028 shares of the pharmacy operator’s stock after selling 40,300 shares during the quarter. Impax Asset Management Group plc’s holdings in CVS Health were worth $28,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors boosted its position 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 valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors grew its holdings in 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 purchasing an additional 4,226,225 shares during the period. Capital Research Global Investors increased its holdings in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after acquiring an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its holdings in CVS Health by 132.9% in the 2nd 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 last quarter. Finally, Lazard Asset Management LLC lifted its stake in CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after acquiring an additional 389,166 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen raised 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 report on Friday, October 4th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays reduced their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $73.11.

CVS Health Trading Down 2.1 %

Shares of CVS Health stock opened at $54.65 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market capitalization of $68.75 billion, a PE ratio of 9.72, a P/E/G ratio of 0.82 and a beta of 0.55. The firm’s 50-day moving average price is $59.58 and its 200 day moving average price is $59.39.

CVS Health (NYSE:CVS) last issued its quarterly earnings results 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. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.87%. CVS Health’s payout ratio is 47.33%.

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.