Eagle Asset Management Inc. Acquires New Holdings in CVS Health Co. (NYSE:CVS)

Eagle Asset Management Inc. bought a new position in CVS Health Co. (NYSE:CVS) in the 3rd quarter, HoldingsChannel reports. The fund bought 44,446 shares of the pharmacy operator’s stock, valued at approximately $2,795,000.

Other large investors also recently made changes to their positions in the company. Garland Capital Management Inc. raised its stake in CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Plimoth Trust Co. LLC lifted its holdings in CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the period. Hexagon Capital Partners LLC grew its position in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in shares of CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 3.6 %

Shares of CVS Health stock opened at $60.10 on Tuesday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a market cap of $75.63 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. 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 stock has a 50-day moving average price of $59.25 and a 200 day moving average price of $58.67.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. As a group, analysts expect that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 4.43%. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVS shares. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Barclays cut their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

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.