4,250 Shares in CVS Health Corporation $CVS Purchased by Red Mountain Financial LLC

Key Points

• Red Mountain Financial LLC acquired 4,250 shares of CVS Health Corporation for approximately $293,000 in the second quarter, reflecting growing institutional interest in the company.
• CVS Health reported a surge in earnings with $1.81 earnings per share, exceeding expectations, alongside an 8.4% increase in revenue year-over-year, totaling $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, scheduled to be paid on November 3rd, representing a 3.4% dividend yield.

Red Mountain Financial LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,250 shares of the pharmacy operator's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc increased its position in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC lifted its position in shares of CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. ORG Partners LLC boosted its stake in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 377 shares during the period. Saudi Central Bank purchased a new stake in CVS Health during the 1st quarter worth approximately $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in CVS Health during the 2nd quarter worth approximately $35,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS stock opened at $77.48 on Friday. The business has a 50 day moving average price of $70.37 and a 200 day moving average price of $67.27. The stock has a market cap of $98.27 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $77.76. 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 (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.4%. CVS Health's payout ratio is presently 74.30%.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on 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 owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVS shares. Jefferies Financial Group raised their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Morgan Stanley raised their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Finally, UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.25.

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.

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