Sumitomo Mitsui DS Asset Management Company Ltd Has $10.65 Million Position in CVS Health Co. (NYSE:CVS)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in CVS Health Co. (NYSE:CVS) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,307 shares of the pharmacy operator’s stock after buying an additional 24,472 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CVS Health were worth $10,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health in the 2nd quarter valued at $57,584,000. CX Institutional boosted its holdings in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after buying an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in shares of CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares during the period. Steph & Co. boosted its holdings in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in shares of CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVS. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen raised shares of 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. 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 report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Barclays raised 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 assigned a buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Trading Down 5.2 %

CVS opened at $60.35 on Friday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $59.80 and a 200-day moving average of $60.62. The stock has a market cap of $75.76 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.93 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 the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the company posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced 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. This represents a $2.66 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

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.