Weiss Asset Management LP Makes New $6.61 Million Investment in CVS Health Co. (NYSE:CVS)

Weiss Asset Management LP acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the third quarter, according to its most recent filing with the SEC. The fund acquired 105,179 shares of the pharmacy operator’s stock, valued at approximately $6,614,000.

Several other institutional investors have also recently modified their holdings of CVS. Garland Capital Management Inc. boosted its position in shares of CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in shares of CVS Health by 2.5% during the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 2.8 %

Shares of CVS Health stock opened at $55.27 on Friday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $69.55 billion, a P/E ratio of 14.03, a PEG ratio of 0.99 and a beta of 0.54. The company’s fifty day moving average is $59.39 and its two-hundred day moving average is $58.79.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 earnings per share. Analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current 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 given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.81%. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of analyst reports. 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 report on Tuesday, October 8th. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Truist Financial reaffirmed a “buy” rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $70.50.

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.