CVS Health Co. (NYSE:CVS) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in CVS Health Co. (NYSE:CVS) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 448,323 shares of the pharmacy operator’s stock after acquiring an additional 24,285 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CVS Health were worth $28,191,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the period. Cullinan Associates Inc. increased its holdings in 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 position in shares of CVS Health during the 2nd quarter worth approximately $57,584,000. CX Institutional increased 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 in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in CVS Health by 27.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.06 during trading on Wednesday, reaching $54.09. 723,843 shares of the company traded hands, compared to its average volume of 11,295,863. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. 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 $68.07 billion, a PE ratio of 13.72, a PEG ratio of 0.97 and a beta of 0.55. The company’s 50 day moving average is $59.47 and its two-hundred day moving average is $58.88.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.44 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVS. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Finally, Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target 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.