Quantbot Technologies LP Makes New $6.90 Million Investment in CVS Health Co. (NYSE:CVS)

Quantbot Technologies LP purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the third quarter, Holdings Channel reports. The fund purchased 109,764 shares of the pharmacy operator’s stock, valued at approximately $6,902,000.

Other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the third quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter valued at about $32,000. First Community Trust NA lifted its holdings in 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. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 3.6 %

Shares of NYSE:CVS opened at $60.10 on Tuesday. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The firm has a market cap of $75.63 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $59.25 and its two-hundred day moving average price is $58.67.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that CVS Health Co. will post 5.43 EPS 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 issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial reissued a “buy” rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

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.