Bristlecone Advisors LLC Acquires 395 Shares of CVS Health Co. (NYSE:CVS)

Bristlecone Advisors LLC raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 10,340 shares of the pharmacy operator’s stock after acquiring an additional 395 shares during the period. Bristlecone Advisors LLC’s holdings in CVS Health were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVS. Cornerstone Wealth Group LLC purchased a new stake in CVS Health in the 1st quarter worth approximately $207,000. LVW Advisors LLC purchased a new stake in CVS Health in the 1st quarter worth $316,000. Aviance Capital Partners LLC boosted its stake in CVS Health by 6.5% during the first quarter. Aviance Capital Partners LLC now owns 11,669 shares of the pharmacy operator’s stock valued at $931,000 after buying an additional 710 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of CVS Health by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 19,133 shares of the pharmacy operator’s stock worth $1,526,000 after acquiring an additional 306 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in CVS Health by 12.2% during the first quarter. Claro Advisors LLC now owns 9,172 shares of the pharmacy operator’s stock valued at $732,000 after purchasing an additional 1,000 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company boosted their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial boosted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Trading Up 0.7 %

NYSE:CVS opened at $56.49 on Monday. The firm has a 50 day moving average of $59.82 and a 200 day moving average of $59.84. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $70.92 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping 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 firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the firm earned $2.21 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is currently 46.75%.

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.