Kathleen S. Wright Associates Inc. Buys New Stake in CVS Health Co. (NYSE:CVS)

Kathleen S. Wright Associates Inc. acquired a new position in CVS Health Co. (NYSE:CVS) in the third quarter, Holdings Channel.com reports. The fund acquired 532 shares of the pharmacy operator’s stock, valued at approximately $33,000.

A number of other large investors have also modified their holdings of CVS. Pzena Investment Management LLC grew its position in 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 worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors raised its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors grew its position in shares of CVS Health by 8.0% during 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 during the period. State of Michigan Retirement System increased its position in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB acquired a new position in CVS Health during the first quarter worth $110,816,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Price Performance

Shares of CVS stock traded up $0.95 during midday trading on Monday, reaching $67.58. 2,839,449 shares of the company traded hands, compared to its average volume of 10,997,930. The firm has a market cap of $84.84 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm’s 50 day simple moving average is $59.12 and its two-hundred day simple moving average is $60.89. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 3.94%. CVS Health’s payout ratio is 46.75%.

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.