National Bank of Canada FI Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

National Bank of Canada FI increased its position in CVS Health Co. (NYSE:CVS) by 168.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,380 shares of the pharmacy operator’s stock after acquiring an additional 1,225,858 shares during the period. National Bank of Canada FI owned approximately 0.16% of CVS Health worth $122,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter worth about $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth about $32,000. First Community Trust NA grew its position in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Piper Sandler dropped 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. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. UBS Group raised their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Trading Down 2.8 %

CVS opened at $55.27 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company’s 50 day simple moving average is $59.39 and its two-hundred day simple moving average is $58.79. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm has a market capitalization of $69.55 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company posted $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts expect that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.