HTLF Bank Decreases Stock Position in CVS Health Co. (NYSE:CVS)

HTLF Bank reduced its position in CVS Health Co. (NYSE:CVS) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,736 shares of the pharmacy operator’s stock after selling 407 shares during the quarter. HTLF Bank’s holdings in CVS Health were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors increased its holdings 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 during the last quarter. State of Michigan Retirement System lifted its position in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB purchased a new stake in CVS Health in the 1st quarter valued at $110,816,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $65.01 on Wednesday. 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. The firm has a market cap of $81.61 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company’s 50 day moving average is $59.45 and its two-hundred day moving average is $60.70.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.09%. CVS Health’s payout ratio is 46.75%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Evercore ISI lifted 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. Wells Fargo & Company increased their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Truist Financial upped their price target on CVS Health from $66.00 to $76.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.