Westfield Capital Management Co. LP Invests $663,000 in CVS Health Co. (NYSE:CVS)

Westfield Capital Management Co. LP purchased a new stake in CVS Health Co. (NYSE:CVS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,549 shares of the pharmacy operator’s stock, valued at approximately $663,000.

Several other large investors have also recently added to or reduced their stakes in CVS. Waverly Advisors LLC grew its holdings in CVS Health by 25.0% during the 1st quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator’s stock worth $1,121,000 after acquiring an additional 2,815 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of CVS Health by 2.5% during the first quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock valued at $14,143,000 after purchasing an additional 4,318 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in CVS Health by 29.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 79,876 shares of the pharmacy operator’s stock worth $6,371,000 after purchasing an additional 18,093 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in CVS Health by 28.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 14,157 shares of the pharmacy operator’s stock worth $1,129,000 after buying an additional 3,099 shares in the last quarter. Finally, KLCM Advisors Inc. increased its stake in shares of CVS Health by 53.8% in the 1st quarter. KLCM Advisors Inc. now owns 4,724 shares of the pharmacy operator’s stock valued at $377,000 after buying an additional 1,652 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVS. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Truist Financial reiterated a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Price Performance

Shares of NYSE CVS opened at $60.10 on Tuesday. The company has a fifty day moving average price of $59.25 and a 200 day moving average price of $58.67. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm has a market cap of $75.63 billion, a PE ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. 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 (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. 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. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s 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.