Segall Bryant & Hamill LLC Takes $1.85 Million Position in CVS Health Co. (NYSE:CVS)

Segall Bryant & Hamill LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,372 shares of the pharmacy operator’s stock, valued at approximately $1,847,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. West Family Investments Inc. grew its position in CVS Health by 13.6% in the third quarter. West Family Investments Inc. now owns 24,992 shares of the pharmacy operator’s stock worth $1,571,000 after acquiring an additional 2,986 shares during the period. Second Half Financial Partners LLC purchased a new position in shares of CVS Health during the 3rd quarter worth $359,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of CVS Health during the 3rd quarter worth about $3,888,000. Banque Cantonale Vaudoise raised its holdings in CVS Health by 1.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 36,545 shares of the pharmacy operator’s stock valued at $2,298,000 after buying an additional 602 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in CVS Health by 5.8% during the third quarter. Prospera Financial Services Inc now owns 34,555 shares of the pharmacy operator’s stock worth $2,174,000 after buying an additional 1,908 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 1.6 %

CVS Health stock opened at $58.01 on Friday. The stock has a 50-day simple moving average of $59.21 and a 200-day simple moving average of $58.61. The company has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVS. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Truist Financial reissued a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday. Finally, Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.28.

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.