Callan Family Office LLC Buys 89,053 Shares of CVS Health Corporation $CVS

Key Points

• Callan Family Office LLC increased its stake in CVS Health Corporation by 277.8%, purchasing an additional 89,053 shares, bringing its total holdings to 121,108 shares valued at approximately $8.35 million.
• Multiple hedge funds and institutional investors have also raised their stakes in CVS Health, with overall institutional ownership at 80.66% of the company's stock.
• Analysts have forecasted positive growth for CVS, with price targets raised by various firms and a consensus rating of "Moderate Buy" reflecting strong investor interest.

Callan Family Office LLC lifted its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 277.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,108 shares of the pharmacy operator's stock after purchasing an additional 89,053 shares during the period. Callan Family Office LLC's holdings in CVS Health were worth $8,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc raised its stake 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 in the last quarter. Roxbury Financial LLC raised its stake in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 202 shares during the period. ORG Partners LLC raised its stake in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 377 shares during the period. Saudi Central Bank bought a new stake in CVS Health in the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory bought a new stake in CVS Health in the 2nd quarter valued at $35,000. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. Wolfe Research increased their price target on CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Barclays increased their price target on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

CVS Health Stock Performance

Shares of NYSE CVS opened at $76.78 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $79.20. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 0.85 and a beta of 0.60. The stock's fifty day moving average price is $71.98 and its two-hundred day moving average price is $67.59.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $1.83 earnings per share. CVS Health's revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.