CVS Health Co. (NYSE:CVS) Shares Sold by TCW Group Inc.

TCW Group Inc. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 17,166 shares of the pharmacy operator’s stock after selling 405 shares during the period. TCW Group Inc.’s holdings in CVS Health were worth $1,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $49.59 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. CVS Health Co. has a 12-month low of $49.47 and a 12-month high of $83.25. The business’s fifty day moving average price is $58.86 and its 200 day moving average price is $58.75. The stock has a market capitalization of $62.40 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate 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 net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 EPS. 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 declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. 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. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.