Assenagon Asset Management S.A. Reduces Position in CVS Health Corporation $CVS

Key Points

• Assenagon Asset Management cut its CVS Health stake by 70.4% in the first quarter, selling over 2.08 million shares and leaving it with 876,353 shares valued at about $62.9 million.
• Insider selling has been heavy, including notable sales by EVP Tilak Mandadi and Director Larry Robbins; insiders have sold 3.44 million shares worth about $323.7 million over the last three months.
• Despite the selling, Wall Street remains constructive on CVS: 22 analysts rate it a Buy, and the consensus price target is $101.28, with recent reports lifting targets to as high as $110-$113.

Assenagon Asset Management S.A. trimmed its position in CVS Health Corporation (NYSE:CVS - Free Report) by 70.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 876,353 shares of the pharmacy operator's stock after selling 2,079,660 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of CVS Health worth $62,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CVS Health during the fourth quarter valued at about $1,666,265,000. Wellington Management Group LLP boosted its stake in CVS Health by 193.2% during the fourth quarter. Wellington Management Group LLP now owns 18,564,392 shares of the pharmacy operator's stock worth $1,473,270,000 after acquiring an additional 12,233,675 shares in the last quarter. Amundi grew its stake in shares of CVS Health by 95.3% in the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator's stock worth $572,665,000 after buying an additional 3,637,943 shares during the last quarter. Capital Research Global Investors grew its stake in shares of CVS Health by 24.5% in the third quarter. Capital Research Global Investors now owns 11,469,250 shares of the pharmacy operator's stock worth $864,667,000 after acquiring an additional 2,253,531 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in CVS Health by 70.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,294,134 shares of the pharmacy operator's stock valued at $399,125,000 after purchasing an additional 2,188,307 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Tilak Mandadi sold 69,551 shares of CVS Health stock in a transaction on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the transaction, the executive vice president directly owned 10,133 shares in the company, valued at approximately $907,714.14. The trade was a 87.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry Robbins sold 370,462 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $93.45, for a total value of $34,619,673.90. Following the sale, the director directly owned 4,824,799 shares of the company's stock, valued at $450,877,466.55. This represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,441,551 shares of company stock valued at $323,703,977. Insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Wolfe Research lowered their price objective on CVS Health from $100.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, March 2nd. TD Cowen boosted their price target on CVS Health from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Bank of America upped their price target on CVS Health from $100.00 to $110.00 and gave the company a "buy" rating in a report on Monday. Cantor Fitzgerald reiterated an "overweight" rating on shares of CVS Health in a report on Thursday, June 11th. Finally, Piper Sandler reissued an "overweight" rating and issued a $113.00 target price on shares of CVS Health in a research report on Monday, June 1st. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.28.

CVS Health News Summary

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: CVS is expanding its direct-to-consumer GLP-1 weight-loss program, which could support new growth and improve margins if demand continues. CVS expands direct-to-consumer GLP-1 weight-loss program
• Positive Sentiment: Analysts/valuation updates have nudged CVS’s implied fair value higher, reflecting improving views on GLP-1 engagement, margins, and earnings resilience. CVS Health (CVS) Stock Sees Modest Fair Value Lift As GLP 1 And Margins Help
• Positive Sentiment: CVS Health Foundation announced $2 million in combined grants to Hartford- and Rhode Island-area nonprofits, reinforcing community ties and its local health access message. CVS Health Foundation invests $1 million in Hartford nonprofits tackling community health needs
• Positive Sentiment: CVS won a whistleblower drug lawsuit, removing a potential legal overhang. CVS Health Beats Whistleblower’s Worthless Services Drug Suit

CVS Health Stock Up 2.6%

CVS Health stock opened at $104.50 on Friday. CVS Health Corporation has a one year low of $58.50 and a one year high of $104.94. The stock has a fifty day moving average of $91.23 and a 200 day moving average of $82.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.66 and a current ratio of 0.87. The stock has a market cap of $133.33 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 1.00 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The firm had revenue of $100.43 billion during the quarter, compared to analyst estimates of $94.99 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. As a group, sell-side analysts predict that CVS Health Corporation will post 7.44 EPS for the current year.

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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