Zurcher Kantonalbank Zurich Cantonalbank Buys 9,418 Shares of CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CVS Health Co. (NYSE:CVS) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,194 shares of the pharmacy operator’s stock after purchasing an additional 9,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVS Health were worth $16,424,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of CVS Health in the 3rd quarter valued at about $40,000. Thematics Asset Management grew its holdings in CVS Health by 1.9% during the 3rd quarter. Thematics Asset Management now owns 57,376 shares of the pharmacy operator’s stock worth $3,608,000 after acquiring an additional 1,064 shares during the period. Avestar Capital LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $326,000. Quantbot Technologies LP bought a new position in shares of CVS Health in the 3rd quarter worth $6,902,000. Finally, West Tower Group LLC acquired a new stake in shares of CVS Health during the third quarter worth $302,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $59.85 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a fifty day moving average price of $59.36 and a two-hundred day moving average price of $58.75. The stock has a market cap of $75.32 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued 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 dividend payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVS shares. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada reduced their target price 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price 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.