Pitcairn Co. Has $478,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Pitcairn Co. lessened its holdings in CVS Health Co. (NYSE:CVS) by 60.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,598 shares of the pharmacy operator’s stock after selling 11,556 shares during the quarter. Pitcairn Co.’s holdings in CVS Health were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares during the period. Cullinan Associates Inc. grew its position in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in CVS Health in the 2nd quarter valued at $57,584,000. Oppenheimer Asset Management Inc. lifted its position in shares of CVS Health by 5.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after acquiring an additional 24,285 shares during the period. Finally, CX Institutional grew 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 purchasing an additional 65,259 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVS shares. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. One 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Trading Down 1.8 %

NYSE CVS opened at $59.02 on Wednesday. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $74.27 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. The business’s 50-day moving average price is $59.26 and its two-hundred day moving average price is $58.69.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts expect that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared 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 4.51%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) 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.