CVS Health Co. (NYSE:CVS) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 65.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,379 shares of the pharmacy operator’s stock after acquiring an additional 2,530 shares during the period. Silver Oak Securities Incorporated’s holdings in CVS Health were worth $392,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVS. Mraz Amerine & Associates Inc. boosted its holdings in shares of CVS Health by 10.9% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 20,643 shares of the pharmacy operator’s stock valued at $1,298,000 after purchasing an additional 2,022 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of CVS Health by 18.2% in the 3rd quarter. Tectonic Advisors LLC now owns 12,878 shares of the pharmacy operator’s stock worth $810,000 after buying an additional 1,985 shares during the period. DT Investment Partners LLC boosted its holdings in CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after acquiring an additional 202 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in CVS Health by 49.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,992,170 shares of the pharmacy operator’s stock worth $125,268,000 after acquiring an additional 659,928 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of CVS Health by 6.6% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 134,815 shares of the pharmacy operator’s stock worth $8,477,000 after purchasing an additional 8,340 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVS. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Price Performance

CVS opened at $56.49 on Friday. 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 1-year low of $52.77 and a 1-year high of $83.25. The company has a 50-day moving average of $59.82 and a 200-day moving average of $60.02. The company has a market capitalization of $71.06 billion, a P/E ratio of 10.05, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. CVS Health’s payout ratio is currently 47.33%.

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.