Zurcher Kantonalbank Zurich Cantonalbank Has $16.42 Million Stake in CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 3.7% during the third quarter, Holdings Channel.com reports. The fund owned 261,194 shares of the pharmacy operator’s stock after acquiring an additional 9,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVS Health were worth $16,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares during the period. AQR Capital Management LLC boosted its position in shares of CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its position in CVS Health by 1,470.2% during the third quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock valued at $87,810,000 after purchasing an additional 1,307,531 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Mizuho decreased their price target on shares of 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 reissued a “buy” rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Down 0.2 %

CVS Health stock opened at $59.85 on Friday. The firm has a 50 day moving average price of $59.36 and a two-hundred day moving average price of $58.75. 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 Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The firm has a market cap of $75.32 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.02 and a beta of 0.55.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 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.