CVS Health Co. (NYSE:CVS) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of CVS Health Co. (NYSE:CVS) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 327,080 shares of the pharmacy operator’s stock after acquiring an additional 7,200 shares during the period. Public Sector Pension Investment Board’s holdings in CVS Health were worth $20,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter valued at approximately $33,000. Finally, First Community Trust NA increased its position 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 buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 1.6 %

NYSE CVS opened at $59.96 on Thursday. The company has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The company’s fifty day moving average price is $59.30 and its two-hundred day moving average price is $58.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.