Rhumbline Advisers Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

Rhumbline Advisers lifted its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,652,428 shares of the pharmacy operator’s stock after purchasing an additional 35,026 shares during the quarter. Rhumbline Advisers’ holdings in CVS Health were worth $119,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health in the third quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the third quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter worth approximately $32,000. Finally, Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Truist Financial boosted their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.28.

CVS Health Price Performance

Shares of CVS stock opened at $65.71 on Friday. The stock has a market cap of $82.68 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. The business’s fifty day moving average is $51.11 and its 200 day moving average is $56.08. CVS Health Co. has a twelve month low of $43.56 and a twelve month 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.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Research analysts expect that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s payout ratio is 67.51%.

CVS Health Company 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.