DORCHESTER WEALTH MANAGEMENT Co Increases Holdings in CVS Health Co. (NYSE:CVS)

DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,815 shares of the pharmacy operator’s stock after purchasing an additional 8,340 shares during the quarter. CVS Health makes up 1.5% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 25th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CVS Health were worth $8,477,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health during the 2nd quarter valued at $57,584,000. CX Institutional increased its position in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after purchasing an additional 65,259 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares during the period. First Hawaiian Bank grew its stake in shares of CVS Health by 30.1% during the 2nd quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after acquiring an additional 23,213 shares during the period. Finally, Czech National Bank grew its stake in shares of CVS Health by 7.2% during the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after acquiring an additional 17,206 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS traded up $0.07 during trading on Thursday, hitting $56.85. The company’s stock had a trading volume of 1,073,778 shares, compared to its average volume of 11,200,385. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The firm has a market cap of $71.37 billion, a PE ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. The business’s 50 day simple moving average is $59.88 and its 200-day simple moving average is $60.17.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for 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%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVS shares. Wells Fargo & Company increased their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays cut their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.58.

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.