Plato Investment Management Ltd Grows Position in CVS Health Co. (NYSE:CVS)

Plato Investment Management Ltd boosted its stake in CVS Health Co. (NYSE:CVS) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,020 shares of the pharmacy operator’s stock after buying an additional 1,383 shares during the period. Plato Investment Management Ltd’s holdings in CVS Health were worth $2,263,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Garland Capital Management Inc. lifted 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 acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its stake in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares in the last quarter. Plimoth Trust Co. LLC boosted its position in shares of CVS Health by 0.4% during the second 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 period. Hexagon Capital Partners LLC grew its stake in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Truist Financial increased their target price 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. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Stock Performance

Shares of CVS opened at $54.27 on Thursday. The company has a market capitalization of $68.29 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $59.47 and a 200 day moving average price of $58.88.

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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 5.44 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

CVS Health 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.