CVS Health Co. (NYSE:CVS) Shares Bought by Missouri Trust & Investment Co

Missouri Trust & Investment Co lifted its position in shares of CVS Health Co. (NYSE:CVS) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,073 shares of the pharmacy operator’s stock after acquiring an additional 3,501 shares during the quarter. Missouri Trust & Investment Co’s holdings in CVS Health were worth $1,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of CVS Health by 9.7% in 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 in the last quarter. Cullinan Associates Inc. increased its position in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health in the second quarter worth $57,584,000. CX Institutional increased its position in shares of CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of CVS Health by 27.9% in the second 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVS. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Wells Fargo & Company cut their price objective on shares of 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Truist Financial raised their target price 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. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Price Performance

CVS stock traded down $1.32 during midday trading on Tuesday, reaching $54.49. The company had a trading volume of 1,316,175 shares, compared to its average volume of 11,277,223. The company has a market capitalization of $68.57 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The stock has a 50 day moving average price of $59.53 and a 200-day moving average price of $58.97. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 5.63 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

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.