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

Pitcairn Co. reduced its position in CVS Health Co. (NYSE:CVS) by 60.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,598 shares of the pharmacy operator’s stock after selling 11,556 shares during the period. Pitcairn Co.’s holdings in CVS Health were worth $478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter worth $32,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter valued at about $33,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.8 %

CVS Health stock opened at $59.02 on Wednesday. The stock has a market cap of $74.27 billion, a P/E ratio of 14.98, a PEG ratio of 0.98 and a beta of 0.55. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The firm’s fifty day moving average price is $59.26 and its 200-day moving average price is $58.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

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

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 4.51%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.