Insigneo Advisory Services LLC Raises Stock Position in CVS Health Co. (NYSE:CVS)

Insigneo Advisory Services LLC increased its stake in CVS Health Co. (NYSE:CVS) by 44.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,866 shares of the pharmacy operator’s stock after acquiring an additional 2,417 shares during the quarter. Insigneo Advisory Services LLC’s holdings in CVS Health were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in shares of CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Down 2.8 %

CVS stock opened at $55.29 on Monday. The company’s 50 day moving average price is $59.32 and its 200 day moving average price is $58.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The firm has a market capitalization of $69.58 billion, a price-to-earnings ratio of 14.03, a PEG 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 firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.81%. CVS Health’s payout ratio 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.