CVS Health Co. (NYSE:CVS) Shares Acquired by Cypress Capital Group

Cypress Capital Group boosted its position in CVS Health Co. (NYSE:CVS) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,654 shares of the pharmacy operator’s stock after buying an additional 320 shares during the quarter. Cypress Capital Group’s holdings in CVS Health were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVS. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health during the 2nd quarter valued at $57,584,000. Oppenheimer Asset Management Inc. increased its stake in CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after purchasing an additional 24,285 shares in the last quarter. Finally, CX Institutional lifted its position in shares of CVS Health by 698.0% in the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $57.07 on Friday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The business’s 50-day moving average is $59.20 and its two-hundred day moving average is $58.60. 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 firm has a market capitalization of $71.81 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its 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 analyst estimates of $92.72 billion. During the same period in the prior year, the company posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts anticipate that CVS Health Co. will post 5.43 earnings per share 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 given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.66%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial restated a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday. Mizuho reduced their price target 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. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.28.

CVS Health 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.