Cullinan Associates Inc. Purchases 37,395 Shares of CVS Health Co. (NYSE:CVS)

Cullinan Associates Inc. raised its holdings in CVS Health Co. (NYSE:CVS) by 43.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,682 shares of the pharmacy operator’s stock after acquiring an additional 37,395 shares during the quarter. Cullinan Associates Inc.’s holdings in CVS Health were worth $7,125,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVS. Pzena Investment Management LLC grew its position in shares of 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 buying an additional 7,382,931 shares during the period. Capital International Investors grew its holdings in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors increased its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of CVS Health in the 1st quarter valued at $110,816,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on CVS shares. Barclays dropped their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Stock Up 1.5 %

Shares of NYSE:CVS traded up $0.83 during midday trading on Friday, hitting $56.95. The stock had a trading volume of 1,562,411 shares, compared to its average volume of 11,190,254. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The business’s 50-day simple moving average is $59.88 and its 200-day simple moving average is $60.17. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $71.64 billion, a P/E ratio of 10.12, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the business earned $2.21 EPS. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is presently 47.33%.

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.