Biltmore Family Office LLC Purchases New Position in CVS Health Co. (NYSE:CVS)

Biltmore Family Office LLC purchased a new stake in CVS Health Co. (NYSE:CVS) in the third quarter, HoldingsChannel reports. The fund purchased 3,378 shares of the pharmacy operator’s stock, valued at approximately $212,000.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter worth about $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter worth about $33,000. Finally, First Community Trust NA lifted its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Truist Financial reaffirmed a “buy” rating and set a $67.00 target price (down from $76.00) on shares of CVS Health in a research report on Wednesday. Finally, 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, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

CVS Health Stock Performance

Shares of CVS stock opened at $58.01 on Friday. The firm has a market cap of $73.00 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $59.21 and its 200 day moving average is $58.59.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company 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 was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.21 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 5.43 EPS 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. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is 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.