Truvestments Capital LLC Takes $356,000 Position in CVS Health Co. (NYSE:CVS)

Truvestments Capital LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,662 shares of the pharmacy operator’s stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. First Community Trust NA increased its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter valued at $33,000. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CVS shares. Piper Sandler decreased 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. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Trading Up 3.6 %

CVS opened at $60.10 on Tuesday. The stock has a market capitalization of $75.63 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. 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 Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The company has a 50-day simple moving average of $59.25 and a 200 day simple moving average of $58.67.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS. Analysts predict that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. CVS Health’s dividend payout ratio (DPR) 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.