CVS Health Co. (NYSE:CVS) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd increased its stake in shares of CVS Health Co. (NYSE:CVS) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,020 shares of the pharmacy operator’s stock after acquiring an additional 1,383 shares during the period. Plato Investment Management Ltd’s holdings in CVS Health were worth $2,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its stake in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares in the last quarter. Capital World Investors grew its position in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVS. Evercore ISI raised their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. UBS Group upped their price objective 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. Wells Fargo & Company dropped their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Stock Performance

Shares of CVS Health stock opened at $54.27 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business’s 50 day moving average price is $59.47 and its 200 day moving average price is $58.88. The company has a market cap of $68.29 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.94 and a beta of 0.55. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. 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 previous year, the company posted $2.21 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. CVS Health’s dividend payout ratio is currently 67.51%.

About CVS Health

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.