Longfellow Investment Management Co. LLC Raises Holdings in CVS Health Co. (NYSE:CVS)

Longfellow Investment Management Co. LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 18,352.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,381 shares of the pharmacy operator’s stock after purchasing an additional 7,341 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in CVS Health were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Truvestments Capital LLC acquired a new stake in CVS Health in the 3rd quarter valued at about $356,000. Daiwa Securities Group Inc. grew its holdings in CVS Health by 12.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 153,359 shares of the pharmacy operator’s stock valued at $9,643,000 after buying an additional 16,549 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $663,000. Larson Financial Group LLC grew its holdings in shares of CVS Health by 258.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,542 shares of the pharmacy operator’s stock worth $223,000 after purchasing an additional 2,555 shares during the period. Finally, Sompo Asset Management Co. Ltd. increased its position in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.61.

CVS Health Stock Up 1.4 %

Shares of NYSE:CVS opened at $58.85 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a 50 day simple moving average of $59.21 and a 200-day simple moving average of $58.63. The company has a market capitalization of $74.06 billion, a PE ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 0.55. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts predict that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

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.