Cinctive Capital Management LP Purchases Shares of 206,957 CVS Health Co. (NYSE:CVS)

Cinctive Capital Management LP acquired a new position in CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 206,957 shares of the pharmacy operator’s stock, valued at approximately $13,013,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its position in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in CVS Health in the 2nd quarter worth about $57,584,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CVS. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Trading Down 0.2 %

Shares of NYSE:CVS opened at $59.85 on Monday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The firm has a fifty day moving average price of $59.36 and a 200 day moving average price of $58.77. 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 market capitalization of $75.32 billion, a PE ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS. Analysts expect that CVS Health Co. will post 5.37 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 issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

CVS Health 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.