Exchange Traded Concepts LLC Purchases 5,679 Shares of CVS Health Co. (NYSE:CVS)

Exchange Traded Concepts LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 61.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,853 shares of the pharmacy operator’s stock after purchasing an additional 5,679 shares during the period. Exchange Traded Concepts LLC’s holdings in CVS Health were worth $934,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in CVS Health during the 4th quarter valued at $36,000. Crewe Advisors LLC bought a new stake in CVS Health in the first quarter worth $40,000. Retirement Group LLC boosted its stake in CVS Health by 54.3% during the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock worth $41,000 after buying an additional 182 shares during the period. Finally, First Community Trust NA raised its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 2.1 %

Shares of NYSE:CVS opened at $63.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $79.93 billion, a PE ratio of 11.19, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The business’s fifty day simple moving average is $59.73 and its 200-day simple moving average is $60.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. As a group, equities research analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Truist Financial increased their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Wells Fargo & Company boosted their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

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.