Tectonic Advisors LLC Raises Holdings in CVS Health Co. (NYSE:CVS)

Tectonic Advisors LLC raised its stake in CVS Health Co. (NYSE:CVS) by 18.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,878 shares of the pharmacy operator’s stock after buying an additional 1,985 shares during the period. Tectonic Advisors LLC’s holdings in CVS Health were worth $810,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Garland Capital Management Inc. grew its holdings in CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its holdings in CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares in the last quarter. Silverlake Wealth Management LLC grew its holdings in CVS Health by 1.6% in the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after buying an additional 173 shares in the last quarter. Plimoth Trust Co. LLC grew its holdings in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVS. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. 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. Finally, Wells Fargo & Company increased 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.49 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market capitalization of $71.06 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The stock’s 50-day simple moving average is $59.85 and its 200-day simple moving average is $60.14.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the company earned $2.21 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research 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. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s dividend payout ratio is presently 47.33%.

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.