CVS Health Co. (NYSE:CVS) Shares Bought by Sunpointe LLC

Sunpointe LLC grew its position in CVS Health Co. (NYSE:CVS) by 14.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,244 shares of the pharmacy operator’s stock after acquiring an additional 524 shares during the period. Sunpointe LLC’s holdings in CVS Health were worth $267,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Wedmont Private Capital boosted its position in CVS Health by 0.8% during the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after purchasing an additional 146 shares in the last quarter. Garland Capital Management Inc. increased its position in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares in the last quarter. Silverlake Wealth Management LLC increased its position in shares of CVS Health by 1.6% during the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after purchasing an additional 173 shares in the last quarter. Finally, Plimoth Trust Co. LLC increased its position in shares of CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.9 %

Shares of CVS traded up $0.61 during mid-day trading on Wednesday, reaching $65.61. The company’s stock had a trading volume of 354,130 shares, compared to its average volume of 11,028,788. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market cap of $82.37 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company’s 50 day moving average is $59.45 and its 200 day moving average is $60.70.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. Equities analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health’s payout ratio is 46.75%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVS. 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 research note on Friday, August 9th. 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. Truist Financial boosted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $63.00 to $82.00 in a research note on Thursday, October 10th. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.