Mawer Investment Management Ltd. Decreases Stake in CVS Health Co. (NYSE:CVS)

Mawer Investment Management Ltd. reduced its holdings in CVS Health Co. (NYSE:CVS) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,013,334 shares of the pharmacy operator’s stock after selling 3,536 shares during the period. Mawer Investment Management Ltd.’s holdings in CVS Health were worth $63,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Garland Capital Management Inc. increased its position in shares of CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares in the last quarter. Plimoth Trust Co. LLC boosted its stake in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the period. Hexagon Capital Partners LLC raised its position in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased 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 purchasing an additional 183 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS stock traded up $0.84 on Monday, reaching $54.03. 842,350 shares of the company were exchanged, compared to its average volume of 11,294,828. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a market cap of $67.99 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business has a 50-day moving average price of $59.23 and a 200 day moving average price of $58.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared 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. This represents a $2.66 annualized dividend and a yield of 4.92%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.78.

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.