11,626 Shares in CVS Health Corporation $CVS Bought by TriaGen Wealth Management LLC

Key Points

• TriaGen Wealth Management LLC acquired 11,626 shares of CVS Health Corporation, valued at approximately $788,000, in the first quarter.
• CVS Health reported a quarterly revenue of $98.92 billion, surpassing analysts' expectations, and earnings per share of $1.81, beating estimates by $0.35.
• CVS Health announced a quarterly dividend of $0.665 per share, representing an annualized yield of 3.9%.

TriaGen Wealth Management LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,626 shares of the pharmacy operator's stock, valued at approximately $788,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Whitebox Advisors LLC acquired a new position in CVS Health during the fourth quarter worth approximately $249,000. Jennison Associates LLC increased its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its position in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health during the fourth quarter worth approximately $121,742,000. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.0540 during trading on Wednesday, reaching $70.9160. 4,980,350 shares of the company's stock were exchanged, compared to its average volume of 9,872,618. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a market cap of $89.94 billion, a P/E ratio of 19.81, a PEG ratio of 0.77 and a beta of 0.58. The firm's 50-day moving average price is $65.22 and its 200 day moving average price is $64.86.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. CVS Health's revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.8%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays upped their target price on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Royal Bank Of Canada increased their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Buy" and a consensus target price of $76.67.

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.