West Tower Group LLC Makes New $302,000 Investment in CVS Health Co. (NYSE:CVS)

West Tower Group LLC bought a new position in CVS Health Co. (NYSE:CVS) during the 3rd quarter, Holdings Channel.com reports. The fund bought 4,800 shares of the pharmacy operator’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the third quarter worth about $32,000. First Community Trust NA raised its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the third quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Price Performance

CVS opened at $60.10 on Tuesday. The business has a fifty day moving average of $59.25 and a 200 day moving average of $58.67. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $75.63 billion, a P/E ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 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.