Deseret Mutual Benefit Administrators Has $806,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Deseret Mutual Benefit Administrators boosted its holdings in CVS Health Co. (NYSE:CVS) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,822 shares of the pharmacy operator’s stock after purchasing an additional 351 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in CVS Health were worth $806,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Cullinan Associates Inc. increased its position in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health during the second quarter valued at approximately $57,584,000. CX Institutional increased its position in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after buying an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in CVS Health by 11.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock valued at $96,696,000 after purchasing an additional 151,901 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS opened at $61.46 on Thursday. The firm’s 50-day simple moving average is $59.59 and its two-hundred day simple moving average is $59.23. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock has a market cap of $77.32 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its earnings results 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 return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that CVS Health Co. will post 6.27 earnings per share 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 issued a $0.665 dividend. 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 presently 47.33%.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial upped their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $73.11.

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.