SpiderRock Advisors LLC Grows Stock Position in CVS Health Co. (NYSE:CVS)

SpiderRock Advisors LLC increased its stake in shares of CVS Health Co. (NYSE:CVS) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,807 shares of the pharmacy operator’s stock after purchasing an additional 332 shares during the quarter. SpiderRock Advisors LLC’s holdings in CVS Health were worth $680,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CWA Asset Management Group LLC purchased a new position in shares of CVS Health in the third quarter worth $777,000. Capital Performance Advisors LLP purchased a new position in CVS Health during the 3rd quarter valued at about $99,000. Winthrop Advisory Group LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $212,000. Verity Asset Management Inc. grew its position in shares of CVS Health by 7.2% in the 3rd quarter. Verity Asset Management Inc. now owns 4,713 shares of the pharmacy operator’s stock worth $296,000 after buying an additional 316 shares during the last quarter. Finally, Sittner & Nelson LLC increased its stake in shares of CVS Health by 152.4% during the third quarter. Sittner & Nelson LLC now owns 1,918 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 1,158 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 2.7 %

Shares of NYSE CVS opened at $55.54 on Monday. The company has a market cap of $69.89 billion, a PE ratio of 14.10, a P/E/G ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.66 and a current ratio of 0.80. The firm’s 50 day moving average price is $59.56 and its 200-day moving average price is $59.12. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

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

CVS Health Announces Dividend

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 dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI lifted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company decreased their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note 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, Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.