Deseret Mutual Benefit Administrators Acquires 351 Shares of CVS Health Co. (NYSE:CVS)

Deseret Mutual Benefit Administrators grew its holdings in CVS Health Co. (NYSE:CVS) by 2.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,822 shares of the pharmacy operator’s stock after acquiring an additional 351 shares during the period. Deseret Mutual Benefit Administrators’ holdings in CVS Health were worth $806,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.11.

CVS Health Trading Down 0.2 %

NYSE:CVS opened at $61.46 on Thursday. The firm has a 50 day moving average of $59.59 and a 200 day moving average of $59.23. The stock has a market capitalization of $77.32 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its 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 12.72% and a net margin of 1.98%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.27 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced 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. This represents a $2.66 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

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.