Legacy Investment Solutions LLC Takes Position in CVS Health Co. (NYSE:CVS)

Legacy Investment Solutions LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 500 shares of the pharmacy operator’s stock, valued at approximately $31,000.

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

CVS Health Stock Performance

Shares of CVS stock opened at $55.29 on Monday. The stock has a market cap of $69.58 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.95 and a beta of 0.54. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The business has a 50-day simple moving average of $59.32 and a 200-day simple moving average of $58.79. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released 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 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 business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, equities analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.81%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVS. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. UBS Group lifted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Barclays decreased their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

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.