CVS Health Corporation $CVS Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in CVS Health Corporation by 5.8%, selling 69,000 shares and now owning 1,123,774 shares valued at $76,136,000.
• CVS Health reported $1.81 earnings per share for the latest quarter, surpassing analyst expectations of $1.46, with revenues reaching $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, representing an annualized dividend yield of 3.6% with a payout ratio of 74.30%.

Adage Capital Partners GP L.L.C. decreased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,123,774 shares of the pharmacy operator's stock after selling 69,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of CVS Health worth $76,136,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CVS. Saudi Central Bank bought a new position in CVS Health in the first quarter worth about $34,000. Costello Asset Management INC lifted its holdings in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC bought a new position in CVS Health in the first quarter worth about $39,000. GW&K Investment Management LLC lifted its holdings in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the last quarter. Finally, Hemington Wealth Management lifted its holdings in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS stock traded up $0.07 during mid-day trading on Friday, hitting $73.76. 5,074,859 shares of the stock traded hands, compared to its average volume of 5,804,935. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $74.53. The firm has a market cap of $93.56 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. The company's 50-day simple moving average is $66.60 and its 200-day simple moving average is $66.00. 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 (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, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $94.87 billion. During the same period last year, the firm earned $1.83 EPS. The firm's revenue for the quarter 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, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.6%. CVS Health's payout ratio is 74.30%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. Morgan Stanley raised their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Bernstein Bank dropped their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 16th. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Barclays raised their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Buy" and a consensus price target of $77.89.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred 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 transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Company 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.