Landscape Capital Management L.L.C. Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Landscape Capital Management L.L.C. lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 45.4% during the third quarter, HoldingsChannel.com reports. The fund owned 75,524 shares of the pharmacy operator’s stock after buying an additional 23,594 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in CVS Health were worth $4,749,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC lifted its position in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System lifted its stake 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 valued at $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Swedbank AB acquired a new position in CVS Health in the 1st quarter valued at $110,816,000. Finally, AQR Capital Management LLC lifted its stake in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after buying an additional 1,327,855 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock opened at $56.83 on Thursday. 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 Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The firm has a fifty day simple moving average of $59.18 and a 200-day simple moving average of $58.61. The company has a market capitalization of $71.52 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings results 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 business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the company posted $2.21 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 5.43 earnings per share 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 $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial restated a “buy” rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday. Finally, Barclays cut their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.28.

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.