Promethium Advisors LLC Buys New Position in CVS Health Corporation $CVS

Key Points

• Promethium Advisors LLC acquired 3,480 shares of CVS Health Corporation, valued at approximately $236,000, during the first quarter.
• CVS Health reported quarterly earnings of $1.81 EPS, beating analysts' expectations, and revenue of $98.92 billion, up 8.4% year-over-year.
• The company has recently declared a quarterly dividend of $0.665, representing an annualized yield of 3.6%.

Promethium Advisors LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,480 shares of the pharmacy operator's stock, valued at approximately $236,000.

A number of other large investors also recently modified their holdings of the business. Saudi Central Bank bought a new stake in shares of CVS Health in the 1st quarter valued at about $34,000. Costello Asset Management INC raised its holdings in CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares during the period. Stone House Investment Management LLC bought a new position in CVS Health in the 1st quarter valued at about $39,000. GW&K Investment Management LLC raised its holdings in CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after acquiring an additional 180 shares during the period. Finally, Hemington Wealth Management raised its holdings in CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after acquiring an additional 172 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS traded up $0.07 during midday trading on Friday, reaching $73.76. The company had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. The business has a 50-day moving average price of $66.60 and a two-hundred day moving average price of $66.00. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $74.53. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock has a market cap of $93.56 billion, a PE ratio of 20.60, a P/E/G ratio of 0.81 and a beta of 0.62.

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

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given 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 yield of 3.6%. CVS Health's dividend payout ratio is presently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Truist Financial increased their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $78.00 target price on shares of CVS Health in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $77.89.

Insiders Place Their Bets

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

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.