Assenagon Asset Management S.A. Has $125.27 Million Position in CVS Health Co. (NYSE:CVS)

Assenagon Asset Management S.A. grew its holdings in CVS Health Co. (NYSE:CVS) by 49.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,992,170 shares of the pharmacy operator’s stock after buying an additional 659,928 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of CVS Health worth $125,268,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Crewe Advisors LLC acquired a new position in CVS Health during the first quarter worth $40,000. Retirement Group LLC lifted its holdings in shares of CVS Health by 54.3% during the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 182 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the 3rd quarter valued at $33,000. Finally, First Community Trust NA grew its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial boosted their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Barclays lowered their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Trading Down 0.2 %

CVS Health stock traded down $0.11 during midday trading on Thursday, hitting $56.67. 4,027,300 shares of the stock were exchanged, compared to its average volume of 11,214,723. The stock has a market capitalization of $71.14 billion, a PE ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $59.88 and a two-hundred day simple moving average of $60.17.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the business posted $2.21 EPS. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.