Ritholtz Wealth Management reduced its holdings in shares of CVS Health Corp (NYSE:CVS) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,459 shares of the pharmacy operator’s stock after selling 314 shares during the period. Ritholtz Wealth Management’s holdings in CVS Health were worth $202,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CVS. Ellis Investment Partners LLC boosted its position in CVS Health by 47.0% in the third quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 173 shares in the last quarter. Hoover Financial Advisors Inc. acquired a new position in CVS Health in the second quarter valued at about $32,000. Exchange Traded Concepts LLC acquired a new position in CVS Health in the second quarter valued at about $41,000. Keebeck Wealth Management LLC acquired a new position in CVS Health in the second quarter valued at about $42,000. Finally, Campbell Wealth Management acquired a new position in CVS Health in the second quarter valued at about $49,000. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of CVS traded down $1.22 on Monday, reaching $59.03. 99,195 shares of the company’s stock were exchanged, compared to its average volume of 8,597,636. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $78.85 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.68. The business has a 50 day moving average price of $58.78 and a two-hundred day moving average price of $62.33. CVS Health Corp has a 12 month low of $52.04 and a 12 month high of $77.03.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.71. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. The business had revenue of $65.30 billion during the quarter, compared to the consensus estimate of $64.29 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. CVS Health’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts predict that CVS Health Corp will post 7.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, October 21st. CVS Health’s payout ratio is presently 28.25%.
A number of equities analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. SVB Leerink boosted their target price on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a research note on Thursday, July 9th. Finally, Piper Sandler assumed coverage on shares of CVS Health in a research note on Thursday, September 17th. They issued an “overweight” rating and a $72.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $82.33.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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