CVS Health Co. (NYSE:CVS) Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC boosted its stake in CVS Health Co. (NYSE:CVS) by 37.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,697 shares of the pharmacy operator’s stock after acquiring an additional 24,792 shares during the period. Daymark Wealth Partners LLC’s holdings in CVS Health were worth $5,703,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the 4th quarter valued at $32,000. First Community Trust NA raised its holdings in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the 4th quarter worth $34,000. Steph & Co. grew its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC raised its position in CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company boosted their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.05.

CVS Health Stock Down 0.8 %

Shares of NYSE CVS traded down $0.54 during midday trading on Wednesday, reaching $65.36. 2,578,965 shares of the company’s stock were exchanged, compared to its average volume of 10,990,032. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The business’s fifty day moving average price is $58.72 and its two-hundred day moving average price is $61.16. The stock has a market capitalization of $82.05 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. Analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.07%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

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.