3,070 Shares in CVS Health Corporation $CVS Bought by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP has purchased 3,070 shares of CVS Health, valued at approximately $212,000, during the second quarter.
• Several institutional investors have significantly increased their stakes in CVS Health, with Jennison Associates LLC boosting its stake by 503.8%.
• Wall Street analysts have raised their price targets for CVS Health, with Barclays setting a new target at $87.00 and Morgan Stanley at $89.00, indicating a positive outlook for the company.

Lyell Wealth Management LP bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,070 shares of the pharmacy operator's stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC boosted its stake 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 in the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock worth $28,264,000 after buying an additional 6,615 shares in the last quarter. Cerity Partners LLC boosted its stake 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 in the last quarter. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock worth $231,808,000 after buying an additional 572,533 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Morgan Stanley boosted their target price on shares of CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday, October 14th. Mizuho boosted their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Truist Financial set a $92.00 target price on shares of CVS Health in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.57.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Down 0.1%

Shares of NYSE CVS opened at $82.47 on Tuesday. The firm's 50-day simple moving average is $74.35 and its 200 day simple moving average is $68.25. The company has a market cap of $104.59 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $82.88.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is currently 74.30%.

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.

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