Perfromance Wealth Partners LLC Buys New Position in CVS Health Co. (NYSE:CVS)

Perfromance Wealth Partners LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,590 shares of the pharmacy operator’s stock, valued at approximately $475,000.

Several other large investors have also recently made changes to their positions in the business. ProShare Advisors LLC boosted its holdings in shares of CVS Health by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock valued at $12,396,000 after buying an additional 17,281 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of CVS Health by 9,318.2% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 9,324 shares of the pharmacy operator’s stock valued at $551,000 after purchasing an additional 9,225 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of CVS Health by 12.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 15,618 shares of the pharmacy operator’s stock valued at $942,000 after purchasing an additional 1,753 shares during the last quarter. Lombard Odier Asset Management Europe Ltd grew its stake in shares of CVS Health by 29.9% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 30,099 shares of the pharmacy operator’s stock valued at $1,778,000 after acquiring an additional 6,927 shares during the period. Finally, Bank of Montreal Can grew its stake 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 valued at $143,890,000 after acquiring an additional 57,214 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.0 %

Shares of NYSE CVS opened at $53.14 on Wednesday. The company’s 50 day simple moving average is $51.27 and its 200 day simple moving average is $56.29. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The firm has a market capitalization of $66.87 billion, a P/E ratio of 13.49, a P/E/G ratio of 0.79 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. On average, analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Analysts Set New Price Targets

CVS has been the topic of several recent research reports. Royal Bank of Canada decreased 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. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler reduced their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

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.