Versor Investments LP Buys Shares of 5,900 CVS Health Co. (NYSE:CVS)

Versor Investments LP purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,900 shares of the pharmacy operator’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Capital World Investors lifted its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Capital International Investors lifted its stake in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors increased its position in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after buying an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after acquiring an additional 389,166 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial increased their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $59.00 to $85.00 in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $72.44.

CVS Health Trading Down 3.4 %

Shares of CVS opened at $53.19 on Friday. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The stock has a 50-day moving average price of $59.32 and a 200 day moving average price of $58.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $66.93 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.93 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. During the same period in the prior year, the business posted $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 5.00%. CVS Health’s payout ratio is 67.51%.

About CVS Health

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.