CVS Health Co. (NYSE:CVS) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 0.2% in the third quarter, Holdings Channel.com reports. The firm owned 122,686 shares of the pharmacy operator’s stock after selling 238 shares during the quarter. CVS Health makes up about 1.9% of Westchester Capital Management Inc.’s holdings, making the stock its 22nd largest position. Westchester Capital Management Inc.’s holdings in CVS Health were worth $7,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cullinan Associates Inc. boosted its stake in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health during the 2nd quarter worth $57,584,000. CX Institutional grew its stake in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in shares of CVS Health by 27.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after purchasing an additional 145,158 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in CVS Health by 11.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock worth $96,696,000 after buying an additional 151,901 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $55.56 on Friday. The stock has a fifty day moving average price of $59.56 and a 200 day moving average price of $59.19. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a market capitalization of $69.89 billion, a P/E ratio of 14.10, a PEG ratio of 0.94 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 firm posted $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 6.18 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.79%. CVS Health’s payout ratio is 67.51%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVS. Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. 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. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.