Mirae Asset Global Investments Co. Ltd. Increases Stake in CVS Health Co. (NYSE:CVS)

Mirae Asset Global Investments Co. Ltd. lifted its position in CVS Health Co. (NYSE:CVS) by 25.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 132,645 shares of the pharmacy operator’s stock after purchasing an additional 26,589 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CVS Health were worth $5,884,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CVS. Assetmark Inc. increased its position in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its position in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. grew its position in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. lifted its stake in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after acquiring an additional 10,453 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of several research reports. Piper Sandler decreased their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Mizuho dropped their target price 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, UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Trading Down 0.5 %

Shares of NYSE:CVS opened at $53.95 on Friday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock’s fifty day moving average price is $50.90 and its 200-day moving average price is $56.02. The company has a market cap of $67.90 billion, a P/E ratio of 13.69, a PEG ratio of 0.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly 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 firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. Sell-side analysts expect that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.93%. CVS Health’s dividend payout ratio 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.