Biechele Royce Advisors Has $17.07 Million Position in CVS Health Co. (NYSE:CVS)

Biechele Royce Advisors trimmed its holdings in CVS Health Co. (NYSE:CVS) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 271,413 shares of the pharmacy operator’s stock after selling 2,933 shares during the quarter. CVS Health comprises 5.6% of Biechele Royce Advisors’ portfolio, making the stock its 6th biggest holding. Biechele Royce Advisors’ holdings in CVS Health were worth $17,066,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Capital World Investors raised its stake in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Capital International Investors raised its stake in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors raised its stake in shares of CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in CVS Health by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after acquiring an additional 389,166 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 1.2 %

NYSE CVS traded down $0.65 during trading hours on Friday, reaching $55.81. 13,581,795 shares of the company’s stock were exchanged, compared to its average volume of 11,174,882. The company’s 50-day moving average is $59.66 and its two-hundred day moving average is $59.62. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization of $70.21 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. On average, analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 annualized dividend and a dividend yield of 4.77%. CVS Health’s dividend payout ratio is presently 47.33%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVS shares. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

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.