TOMS Capital Investment Management LP Invests $121.99 Million in CVS Health Co. (NYSE:CVS)

TOMS Capital Investment Management LP purchased a new position in CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,940,000 shares of the pharmacy operator’s stock, valued at approximately $121,987,000. CVS Health accounts for 4.5% of TOMS Capital Investment Management LP’s holdings, making the stock its 4th biggest position. TOMS Capital Investment Management LP owned approximately 0.15% of CVS Health at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in CVS Health during the 3rd quarter worth $341,000. B&L Asset Management LLC purchased a new position in CVS Health during the 3rd quarter worth $204,000. Erste Asset Management GmbH purchased a new position in CVS Health during the 3rd quarter worth $6,109,000. Cobblestone Capital Advisors LLC NY increased its holdings in CVS Health by 1.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 133,848 shares of the pharmacy operator’s stock worth $8,416,000 after purchasing an additional 1,947 shares during the period. Finally, Widmann Financial Services Inc. increased its holdings in CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CVS shares. Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Performance

Shares of CVS opened at $59.85 on Monday. The stock has a 50-day moving average of $59.36 and a two-hundred day moving average of $58.77. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. 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 stock has a market cap of $75.32 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

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

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.