CVS Health Co. (NYSE:CVS) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. boosted its holdings in CVS Health Co. (NYSE:CVS) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,943 shares of the pharmacy operator’s stock after acquiring an additional 2,341 shares during the period. Cidel Asset Management Inc.’s holdings in CVS Health were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $53.95 on Friday. The company has a 50 day moving average of $50.90 and a two-hundred day moving average of $56.02. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $67.90 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced 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. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. On average, analysts expect that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.93%. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVS. Truist Financial reduced their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

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.