Townsquare Capital LLC Decreases Holdings in CVS Health Co. (NYSE:CVS)

by · The Markets Daily

Townsquare Capital LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,419 shares of the pharmacy operator’s stock after selling 2,928 shares during the period. Townsquare Capital LLC’s holdings in CVS Health were worth $12,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth about $32,000. First Community Trust NA grew its stake in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $59.96 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The business has a 50-day moving average of $59.30 and a 200 day moving average of $58.72. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS – Get Free Report) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping 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 firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.44%. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Check Out Our Latest Research Report on CVS Health

CVS Health Profile

(Free Report)

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.

See Also

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