500,910 Shares in CVS Health Corporation $CVS Purchased by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 500,910 CVS Health shares in the second quarter, valued at approximately $51.8 million. Institutional investors collectively own 80.66% of the company.
• Analysts remain broadly positive, with 22 Buy ratings and two Holds; CVS has a consensus rating of “Moderate Buy” and an average price target of $107.17.
• CVS exceeded quarterly expectations with $2.58 in EPS and $106.1 billion in revenue, while maintaining a quarterly dividend of $0.665 per share, equivalent to a 2.8% yield.

Freestone Grove Partners LP acquired a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 500,910 shares of the pharmacy operator's stock, valued at approximately $51,819,000.

A number of other hedge funds have also added to or reduced their stakes in CVS. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CVS Health by 407.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator's stock valued at $26,000 after purchasing an additional 281 shares during the period. Swiss RE Ltd. purchased a new position in CVS Health during the 4th quarter worth $26,000. Kilter Group LLC bought a new stake in CVS Health during the 2nd quarter valued at $27,000. Sankala Group LLC purchased a new stake in shares of CVS Health in the 4th quarter worth $28,000. Finally, Global Trust Asset Management LLC grew its position in shares of CVS Health by 344.8% during the 1st quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator's stock worth $28,000 after buying an additional 300 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CVS Health from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Cantor Fitzgerald raised their target price on shares of CVS Health from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Barclays upped their price target on shares of CVS Health from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Mizuho increased their price objective on shares of CVS Health from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Wells Fargo & Company lifted their price objective on shares of CVS Health from $103.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Twenty-two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.17.

CVS Health Price Performance

Shares of CVS stock opened at $94.22 on Thursday. The stock's 50-day moving average is $101.63 and its 200 day moving average is $89.33. CVS Health Corporation has a 1-year low of $69.51 and a 1-year high of $110.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The company has a market cap of $120.50 billion, a P/E ratio of 24.93, a PEG ratio of 0.84 and a beta of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business had revenue of $106.10 billion during the quarter, compared to the consensus estimate of $100.03 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Research analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 2.8%. CVS Health's dividend payout ratio is presently 70.37%.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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