Regatta Capital Group LLC Has $261,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Regatta Capital Group LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 33.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,156 shares of the pharmacy operator’s stock after selling 2,060 shares during the period. Regatta Capital Group LLC’s holdings in CVS Health were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CVS. Capital World Investors raised its holdings in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors lifted its holdings in 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 Research Global Investors boosted its stake in CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% in 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 buying an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after buying an additional 389,166 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several research reports. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $63.00 to $82.00 in a research note on Thursday, October 10th. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial boosted 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. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Stock Performance

NYSE CVS opened at $65.01 on Wednesday. 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 $81.61 billion, a PE ratio of 11.43, a PEG ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm’s fifty day moving average price is $59.45 and its two-hundred day moving average price is $60.70.

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

CVS Health Announces Dividend

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

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.