CVS Health Co. (NYSE:CVS) Position Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in CVS Health Co. (NYSE:CVS) by 2.3% during the third quarter, Holdings Channel reports. The fund owned 327,080 shares of the pharmacy operator’s stock after purchasing an additional 7,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in CVS Health were worth $20,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the third quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health during the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth approximately $32,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the third quarter worth approximately $33,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Truist Financial reissued a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. 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 research note on Tuesday, October 8th. Finally, Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Stock Up 1.6 %

CVS stock opened at $59.96 on Thursday. The company has a 50 day moving average of $59.30 and a two-hundred day moving average of $58.72. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued 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 dividend yield of 4.44%. CVS Health’s dividend payout ratio is currently 67.51%.

CVS Health Company 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.