V Square Quantitative Management LLC Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

V Square Quantitative Management LLC raised its position in shares of CVS Health Co. (NYSE:CVS) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,761 shares of the pharmacy operator’s stock after purchasing an additional 2,811 shares during the quarter. V Square Quantitative Management LLC’s holdings in CVS Health were worth $991,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deerfield Management Company L.P. Series C acquired a new position in CVS Health in the 2nd quarter worth approximately $57,584,000. CX Institutional increased its stake in shares of CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after purchasing an additional 145,158 shares during the last quarter. Steph & Co. lifted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after purchasing an additional 16,840 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE CVS opened at $60.35 on Friday. The firm has a 50-day simple moving average of $59.80 and a 200-day simple moving average of $60.62. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $75.76 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $63.00 to $82.00 in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

About CVS Health

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.