Toronto Dominion Bank Acquires 836,569 Shares of CVS Health Co. (NYSE:CVS)

Toronto Dominion Bank grew its holdings in CVS Health Co. (NYSE:CVS) by 124.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,508,071 shares of the pharmacy operator’s stock after purchasing an additional 836,569 shares during the quarter. Toronto Dominion Bank’s holdings in CVS Health were worth $94,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Assetmark Inc. grew its stake in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the last quarter. Cullinan Associates Inc. lifted its stake in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the period. Sompo Asset Management Co. Ltd. grew its holdings in shares of CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of CVS Health in the 2nd quarter valued at $57,584,000. Finally, Oppenheimer Asset Management Inc. lifted its position in CVS Health by 5.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after acquiring an additional 24,285 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

NYSE:CVS opened at $55.15 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a 50 day moving average price of $59.21 and a 200 day moving average price of $58.78. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The stock has a market capitalization of $69.40 billion, a P/E ratio of 14.00, a PEG ratio of 0.95 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVS shares. Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler lowered their price target 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. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Company 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.