CVS Health Corporation $CVS Shares Newly Purchased by Montaka Global Pty Ltd

Montaka Global Pty Ltd purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the pharmacy operator’s stock, valued at approximately $3,428,000. CVS Health comprises 1.4% of Montaka Global Pty Ltd’s holdings, making the stock its 22nd biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Kilter Group LLC acquired a new stake in shares of CVS Health during the second quarter worth about $27,000. Beaird Harris Wealth Management LLC grew its stake in CVS Health by 201.0% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 292 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 195 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in CVS Health in the 2nd quarter valued at approximately $30,000. Timbuktu Capital Management LLC acquired a new stake in shares of CVS Health during the second quarter valued at $31,000. Finally, Dunhill Financial LLC acquired a new stake in shares of CVS Health during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Trending Headlines about CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Zacks upgraded CVS to Rank #2 (Buy), citing improving optimism about the company’s earnings prospects. Article: All You Need to Know About CVS Health Rating Upgrade to Buy
• Positive Sentiment: Incoming CVS Pharmacy CEO Prem Shah reportedly purchased about $2 million of CVS shares, a notable show of confidence from an executive expected to lead one of the businesses after the separation. Article: CVS Health’s Future Pharmacy CEO Just Bought $2 Million of Stock
• Neutral Sentiment: CVS has announced plans to split into two companies by 2028. The restructuring could let each business focus more clearly on its operations, but the companies’ structure and the benefits to shareholders remain important unanswered questions. Article: CVS Health Announces Plan to Split Into Two Companies
• Negative Sentiment: Analyst estimates have become more cautious as the separation plan is factored in. One fair-value estimate was trimmed from $116.28 to $113.76, with execution risk and valuation concerns weighing on the outlook. Article: CVS Health Stock Fair Value Edges Lower on Separation Risk and Analyst Caution

CVS Health Stock Performance

NYSE:CVS opened at $89.03 on Wednesday. The firm’s fifty day simple moving average is $90.12 and its 200 day simple moving average is $88.94. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.71. CVS Health Corporation has a twelve month low of $69.51 and a twelve month high of $110.68. The firm has a market capitalization of $113.92 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.74 and a beta of 0.58.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.44. CVS Health had a return on equity of 13.65% and a net margin of 2.62%. The firm had revenue of $108.40 billion during the quarter, compared to the consensus estimate of $104.72 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that CVS Health Corporation will post 8.25 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were issued a $0.6650 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, October 22nd. CVS Health’s dividend payout ratio is currently 30.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler set a $112.00 price objective on CVS Health in a research report on Wednesday, September 9th. Barclays decreased their price target on CVS Health from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. TD Cowen restated a “buy” rating on shares of CVS Health in a report on Wednesday, November 4th. Leerink Partners dropped their price objective on shares of CVS Health from $112.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $108.25.

Insiders Place Their Bets

In other news, EVP Prem Shah bought 23,855 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $83.89 per share, for a total transaction of $2,001,195.95. Following the completion of the purchase, the executive vice president owned 88,516 shares of the company’s stock, valued at $7,425,607.24. This trade represents a 36.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

About CVS Health

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.