Procyon Advisors LLC Acquires Shares of 3,242 CVS Health Co. (NYSE:CVS)

Procyon Advisors LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,242 shares of the pharmacy operator’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wedmont Private Capital boosted its position in CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after buying an additional 146 shares during the last quarter. Garland Capital Management Inc. increased its position in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC raised its holdings in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the last quarter. Silverlake Wealth Management LLC lifted its position in CVS Health by 1.6% during the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after purchasing an additional 173 shares during the period. Finally, Plimoth Trust Co. LLC boosted its stake in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Truist Financial lifted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $63.00 to $82.00 in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Trading Up 0.0 %

NYSE:CVS opened at $65.01 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a market cap of $81.61 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The business has a 50 day moving average price of $59.62 and a two-hundred day moving average price of $60.73.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.09%. CVS Health’s dividend payout ratio is 46.75%.

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.