Tidal Investments LLC Grows Stock Position in CVS Health Co. (NYSE:CVS)

Tidal Investments LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 52.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 112,010 shares of the pharmacy operator’s stock after buying an additional 38,408 shares during the quarter. Tidal Investments LLC’s holdings in CVS Health were worth $7,043,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health in the 3rd quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the 3rd quarter valued at about $33,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial restated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Performance

Shares of CVS opened at $49.37 on Friday. CVS Health Co. has a 12 month low of $48.01 and a 12 month high of $83.25. The stock has a fifty day moving average price of $58.34 and a 200-day moving average price of $58.62. 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 firm has a market cap of $62.13 billion, a PE ratio of 12.53, a P/E/G ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results 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 return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid 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 yield of 5.39%. CVS Health’s payout ratio is 67.51%.

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.