DekaBank Deutsche Girozentrale Has $113.86 Million Stake in CVS Health Co. (NYSE:CVS)

DekaBank Deutsche Girozentrale increased its stake in shares of CVS Health Co. (NYSE:CVS) by 222.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,858,556 shares of the pharmacy operator’s stock after acquiring an additional 1,282,956 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.15% of CVS Health worth $113,855,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CVS. Deerfield Management Company L.P. Series C acquired a new position in shares of CVS Health during the second quarter worth approximately $57,584,000. CX Institutional boosted its holdings in shares of CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after buying an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC raised its stake in shares of CVS Health by 27.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after purchasing an additional 145,158 shares during the period. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Finally, First Hawaiian Bank boosted its holdings in CVS Health by 30.1% during the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after purchasing an additional 23,213 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $56.49 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a market capitalization of $70.92 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The firm has a fifty day simple moving average of $59.82 and a two-hundred day simple moving average of $59.84.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the firm posted $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVS. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.58.

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.