Two Sigma Advisers LP Purchases 987,100 Shares of CVS Health Co. (NYSE:CVS)

Two Sigma Advisers LP raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 88.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,100,700 shares of the pharmacy operator’s stock after buying an additional 987,100 shares during the quarter. Two Sigma Advisers LP owned about 0.17% of CVS Health worth $132,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Garland Capital Management Inc. raised its position in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC lifted its position in CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the last quarter. Plimoth Trust Co. LLC boosted its stake in CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after acquiring an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group boosted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial reissued a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada cut their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Performance

Shares of CVS stock opened at $56.88 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $59.39 and its 200-day moving average price is $58.79. The stock has a market cap of $71.58 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

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 analysts’ consensus estimates 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 analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that CVS Health Co. will post 5.37 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s dividend payout ratio is currently 67.51%.

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.