CVS Health Co. (NYSE:CVS) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CVS Health Co. (NYSE:CVS) by 1.6% in the third quarter, Holdings Channel reports. The firm owned 7,049,945 shares of the pharmacy operator’s stock after purchasing an additional 107,977 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CVS Health were worth $443,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in CVS Health by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock valued at $14,143,000 after acquiring an additional 4,318 shares during the period. Atria Investments Inc lifted its stake in shares of CVS Health by 1.3% in the 1st quarter. Atria Investments Inc now owns 97,348 shares of the pharmacy operator’s stock valued at $7,764,000 after purchasing an additional 1,292 shares during the period. Cetera Investment Advisers lifted its stake in shares of CVS Health by 190.9% in the 1st quarter. Cetera Investment Advisers now owns 407,844 shares of the pharmacy operator’s stock valued at $32,530,000 after purchasing an additional 267,664 shares during the period. Cetera Advisors LLC lifted its stake in shares of CVS Health by 13.3% in the 1st quarter. Cetera Advisors LLC now owns 123,884 shares of the pharmacy operator’s stock valued at $9,881,000 after purchasing an additional 14,551 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of CVS Health by 27.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 13,865 shares of the pharmacy operator’s stock valued at $1,106,000 after purchasing an additional 2,970 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $59.96 on Friday. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The firm has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.02 and a beta of 0.55. The company has a fifty day simple moving average of $59.33 and a 200-day simple moving average of $58.73. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 5.37 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 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVS. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Truist Financial reiterated a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Piper Sandler cut their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday. Finally, Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.