Valley Wealth Managers Inc. Acquires 16,232 Shares of CVS Health Co. (NYSE:CVS)

Valley Wealth Managers Inc. increased its position in CVS Health Co. (NYSE:CVS) by 33.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,027 shares of the pharmacy operator’s stock after buying an additional 16,232 shares during the period. Valley Wealth Managers Inc.’s holdings in CVS Health were worth $4,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in CVS Health by 52.5% in the 3rd quarter. Empowered Funds LLC now owns 209,682 shares of the pharmacy operator’s stock worth $13,185,000 after acquiring an additional 72,228 shares during the period. Empirical Finance LLC increased its holdings in shares of CVS Health by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 44,629 shares of the pharmacy operator’s stock worth $2,806,000 after purchasing an additional 939 shares during the period. Royce & Associates LP increased its holdings in shares of CVS Health by 2.4% during the 3rd quarter. Royce & Associates LP now owns 87,000 shares of the pharmacy operator’s stock worth $5,471,000 after purchasing an additional 2,000 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of CVS Health by 7.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,660 shares of the pharmacy operator’s stock worth $2,117,000 after purchasing an additional 2,472 shares during the period. Finally, Metis Global Partners LLC increased its holdings in shares of CVS Health by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 40,064 shares of the pharmacy operator’s stock worth $2,519,000 after purchasing an additional 557 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock traded down $1.00 during trading hours on Friday, reaching $54.09. 291,432 shares of the company were exchanged, compared to its average volume of 11,268,020. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock’s fifty day moving average is $59.32 and its two-hundred day moving average is $58.76. The company has a market cap of $68.07 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.93 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.92%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Mizuho decreased 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, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.