Westfield Capital Management Co. LP Takes Position in CVS Health Co. (NYSE:CVS)

Westfield Capital Management Co. LP purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 10,549 shares of the pharmacy operator’s stock, valued at approximately $663,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after acquiring an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after purchasing an additional 304,386 shares during the last quarter. AQR Capital Management LLC raised its position in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after purchasing an additional 1,327,855 shares during the period. National Pension Service lifted its stake in shares of CVS Health by 17.4% during the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock worth $178,793,000 after buying an additional 421,416 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of CVS Health by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock worth $143,890,000 after buying an additional 57,214 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 3.6 %

Shares of CVS Health stock opened at $60.10 on Tuesday. The firm’s 50 day moving average is $59.25 and its 200 day moving average is $58.67. The firm has a market capitalization of $75.63 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the business earned $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVS shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Mizuho dropped their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $70.33.

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.