California Public Employees Retirement System Acquires 269,363 Shares of CVS Health Corporation $CVS

Key Points

• CalPERS increased its CVS Health stake by 11.9% in the first quarter, buying 269,363 additional shares and bringing its position to 2,536,408 shares worth about $182.2 million.
• Analysts remain upbeat on CVS, with 21 Buy ratings and 3 Holds, giving the stock a consensus “Moderate Buy” and an average price target of $105.38.
• CVS posted strong quarterly results, reporting EPS of $2.57 and revenue of $100.43 billion, both above estimates, while also reaffirming FY 2026 EPS guidance of 7.30 to 7.50.

California Public Employees Retirement System raised its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,536,408 shares of the pharmacy operator's stock after purchasing an additional 269,363 shares during the period. California Public Employees Retirement System owned approximately 0.20% of CVS Health worth $182,165,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CVS. Sei Investments Co. increased its holdings in CVS Health by 17.4% in the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator's stock worth $62,474,000 after buying an additional 134,535 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in CVS Health by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator's stock valued at $77,353,000 after acquiring an additional 13,329 shares during the period. Treasurer of the State of North Carolina lifted its stake in CVS Health by 1.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator's stock valued at $40,358,000 after acquiring an additional 7,588 shares during the period. HUB Investment Partners LLC boosted its holdings in shares of CVS Health by 25.0% during the 2nd quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator's stock valued at $1,039,000 after acquiring an additional 3,011 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of CVS Health by 8.0% in the second quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator's stock worth $111,017,000 after acquiring an additional 119,439 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price objective on shares of CVS Health from $94.00 to $106.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on shares of CVS Health from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Morgan Stanley boosted their target price on shares of CVS Health from $106.00 to $111.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Weiss Ratings reissued a "hold (c)" rating on shares of CVS Health in a report on Friday, May 8th. Finally, Robert W. Baird raised their price target on CVS Health from $92.00 to $94.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 15th. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.38.

More CVS Health News

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

• Positive Sentiment: CVS opened its first pharmacy-focused location in Houston and plans to roll out nearly 20 similar sites, signaling an effort to expand access to in-person pharmacy care and strengthen its retail footprint. CVS Pharmacy® celebrates opening of first pharmacy-focused location in Houston
• Positive Sentiment: Management reiterated a constructive stance on GLP-1 drugs and pharmacy economics, with CEO comments highlighting that insurers may eventually cover weight-loss drugs more broadly once prices fall, reinforcing CVS’s role in cost management and pharmacy benefit services. CVS Health CEO David Joyner warns private insurers won't cover GLP-1s for weight loss until drug prices drop
• Positive Sentiment: CVS also floated cost-saving solutions and a settlement in Georgia that could reduce prescription costs for some patients, which may improve public perception and support demand for its pharmacy services. New CVS settlement could lower prescription costs for some Georgians
• Neutral Sentiment: Coverage around CVS education benefits and talent development highlights workforce stability, but it is unlikely to have an immediate impact on the stock. At CVS, education benefits strengthen talent pipelines
• Neutral Sentiment: Broader analyst and media discussion of CVS’s dividend and GLP-1 strategy has helped reinforce the investment case, but this appears more supportive than a near-term catalyst. How Investors May Respond To CVS (CVS) Dividend Move And GLP‑1 Strategy Across Its Health Platform

CVS Health Trading Up 0.8%

NYSE:CVS opened at $107.36 on Friday. CVS Health Corporation has a one year low of $58.50 and a one year high of $108.97. The business has a fifty day moving average price of $98.97 and a 200-day moving average price of $85.13. The firm has a market capitalization of $136.99 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 1.05 and a beta of 0.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.87 and a quick ratio of 0.66.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The company had revenue of $100.43 billion for the quarter, compared to the consensus estimate of $94.99 billion. CVS Health had a return on equity of 11.88% and a net margin of 0.72%.CVS Health's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. Sell-side analysts forecast that CVS Health Corporation will post 7.46 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.5%. CVS Health's payout ratio is 117.18%.

Insider Activity at CVS Health

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

CVS Health Profile

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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