Integrated Investment Consultants LLC Takes Position in CVS Health Co. (NYSE:CVS)

Integrated Investment Consultants LLC purchased a new position in CVS Health Co. (NYSE:CVS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,104 shares of the pharmacy operator’s stock, valued at approximately $1,013,000.

Several other institutional investors have also recently made changes to their positions in CVS. Cypress Capital Group raised its holdings in shares of CVS Health by 5.1% in the 3rd quarter. Cypress Capital Group now owns 6,654 shares of the pharmacy operator’s stock worth $418,000 after acquiring an additional 320 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in CVS Health by 45.4% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 75,524 shares of the pharmacy operator’s stock valued at $4,749,000 after buying an additional 23,594 shares during the last quarter. Intech Investment Management LLC lifted its stake in CVS Health by 70.5% during the 3rd quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator’s stock valued at $6,069,000 after acquiring an additional 39,919 shares in the last quarter. Payden & Rygel purchased a new position in CVS Health during the 3rd quarter worth $6,282,000. Finally, Pzena Investment Management LLC grew its stake in shares of CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after acquiring an additional 198,920 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $57.07 on Friday. The business has a 50-day simple moving average of $59.20 and a 200 day simple moving average of $58.60. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The stock has a market cap of $71.81 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.94 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company 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 earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.66%. CVS Health’s payout ratio is 67.51%.

Analysts Set New Price Targets

Several equities analysts have commented on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial restated a “buy” rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research note on Wednesday. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.28.

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.