TOMS Capital Investment Management LP Acquires Shares of 1,940,000 CVS Health Co. (NYSE:CVS)

TOMS Capital Investment Management LP acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,940,000 shares of the pharmacy operator’s stock, valued at approximately $121,987,000. CVS Health comprises 4.5% of TOMS Capital Investment Management LP’s holdings, making the stock its 4th largest position.

A number of other institutional investors have also modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at about $32,000. First Community Trust NA increased its stake in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Barclays lowered their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Trading Down 0.2 %

CVS opened at $59.85 on Monday. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The stock has a market capitalization of $75.32 billion, a PE ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55. The business’s 50 day moving average price is $59.36 and its 200 day moving average price is $58.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released 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. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 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.