CVS Health Co. (NYSE:CVS) is Entropy Technologies LP’s 9th Largest Position

Entropy Technologies LP reduced its position in CVS Health Co. (NYSE:CVS) by 28.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,840 shares of the pharmacy operator’s stock after selling 48,106 shares during the quarter. CVS Health accounts for about 0.8% of Entropy Technologies LP’s holdings, making the stock its 9th largest holding. Entropy Technologies LP’s holdings in CVS Health were worth $7,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. GSA Capital Partners LLP bought a new stake in shares of CVS Health in the 1st quarter valued at about $536,000. Pettyjohn Wood & White Inc. raised its position in CVS Health by 0.4% during the 1st quarter. Pettyjohn Wood & White Inc. now owns 102,402 shares of the pharmacy operator’s stock valued at $8,168,000 after purchasing an additional 431 shares during the last quarter. Dearborn Partners LLC raised its position in CVS Health by 10.1% during the 1st quarter. Dearborn Partners LLC now owns 17,409 shares of the pharmacy operator’s stock valued at $1,389,000 after purchasing an additional 1,597 shares during the last quarter. TD Asset Management Inc raised its position in CVS Health by 8.7% during the 1st quarter. TD Asset Management Inc now owns 1,219,927 shares of the pharmacy operator’s stock valued at $97,301,000 after purchasing an additional 97,738 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in CVS Health by 6.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,464,135 shares of the pharmacy operator’s stock valued at $108,800,000 after purchasing an additional 92,283 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. 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. Wells Fargo & Company reduced their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Up 0.5 %

CVS Health stock opened at $55.81 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a market cap of $70.23 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.88 and a beta of 0.55. The stock has a fifty day simple moving average of $59.56 and a two-hundred day simple moving average of $59.06.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 5.63 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

About CVS Health

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.