Entropy Technologies LP Has $7.66 Million Stock Position in CVS Health Co. (NYSE:CVS)

Entropy Technologies LP cut its position in CVS Health Co. (NYSE:CVS) by 28.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,840 shares of the pharmacy operator’s stock after selling 48,106 shares during the quarter. CVS Health accounts for about 0.8% of Entropy Technologies LP’s holdings, making the stock its 9th biggest holding. Entropy Technologies LP’s holdings in CVS Health were worth $7,661,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the last quarter. Cullinan Associates Inc. raised its position in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of CVS Health during the second quarter worth about $57,584,000. CX Institutional raised its position in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group raised their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Stock Performance

Shares of CVS opened at $55.81 on Tuesday. The firm has a market cap of $70.23 billion, a PE ratio of 14.16, a PEG ratio of 0.88 and a beta of 0.55. The stock’s fifty day moving average price is $59.56 and its two-hundred day moving average price is $59.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 5.63 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.