Mawer Investment Management Ltd. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Mawer Investment Management Ltd. decreased its holdings in CVS Health Co. (NYSE:CVS) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,013,334 shares of the pharmacy operator’s stock after selling 3,536 shares during the quarter. Mawer Investment Management Ltd. owned 0.08% of CVS Health worth $63,718,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVS. Garland Capital Management Inc. boosted its position in shares of CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its holdings 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 worth $151,000 after purchasing an additional 162 shares during the last quarter. Plimoth Trust Co. LLC grew its holdings in shares of CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.6 %

CVS Health stock traded up $0.84 during midday trading on Monday, reaching $54.03. The stock had a trading volume of 842,350 shares, compared to its average volume of 11,294,828. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The company has a fifty day moving average price of $59.23 and a two-hundred day moving average price of $58.60. The company has a market capitalization of $67.99 billion, a P/E ratio of 13.50, a PEG ratio of 0.92 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.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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 analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVS shares. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $59.00 to $85.00 in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.78.

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.