Oppenheimer & Co. Inc. Purchases 5,325 Shares of CVS Health Co. (NYSE:CVS)

Oppenheimer & Co. Inc. boosted its position in CVS Health Co. (NYSE:CVS) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 99,848 shares of the pharmacy operator’s stock after purchasing an additional 5,325 shares during the period. Oppenheimer & Co. Inc.’s holdings in CVS Health were worth $6,278,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pzena Investment Management LLC boosted its position in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors increased its stake in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System boosted its stake in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Price Performance

CVS opened at $55.11 on Friday. 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 50-day moving average of $59.41 and a 200 day moving average of $58.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $69.35 billion, a P/E ratio of 13.99, a PEG ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.83%. CVS Health’s dividend payout ratio is presently 67.51%.

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.