Gladius Capital Management LP Cuts Holdings in CVS Health Co. (NYSE:CVS)

Gladius Capital Management LP reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,902 shares of the pharmacy operator’s stock after selling 1,088 shares during the period. CVS Health accounts for approximately 0.1% of Gladius Capital Management LP’s investment portfolio, making the stock its 2nd biggest holding. Gladius Capital Management LP’s holdings in CVS Health were worth $1,126,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Garland Capital Management Inc. boosted its position in shares of CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its stake in CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the period. Plimoth Trust Co. LLC increased its holdings in shares of CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after purchasing an additional 183 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 2.8 %

Shares of CVS Health stock opened at $55.29 on Monday. 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 Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The firm has a market cap of $69.58 billion, a PE ratio of 14.03, a PEG ratio of 0.99 and a beta of 0.54. The company has a 50 day simple moving average of $59.32 and a two-hundred day simple moving average of $58.79.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. Analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVS shares. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

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.