Candriam S.C.A. Purchases 123,891 Shares of CVS Health Corporation $CVS

Key Points

• Candriam S.C.A. increased its stake in CVS Health Corporation by 112.4%, holding 234,091 shares worth approximately $15.86 million.
• CVS Health reported earnings of $1.81 per share for the last quarter, surpassing estimates and showing an 8.4% year-over-year revenue increase to $98.92 billion.
• The company declared a quarterly dividend of $0.665, representing an annualized yield of 3.8% and a payout ratio of 74.30%.

Candriam S.C.A. increased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 112.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 234,091 shares of the pharmacy operator's stock after buying an additional 123,891 shares during the quarter. Candriam S.C.A.'s holdings in CVS Health were worth $15,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVS. Dorsey & Whitney Trust CO LLC increased its stake in CVS Health by 10.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 7,378 shares of the pharmacy operator's stock worth $500,000 after acquiring an additional 715 shares during the last quarter. Aspire Growth Partners LLC boosted its holdings in CVS Health by 5.4% in the first quarter. Aspire Growth Partners LLC now owns 5,687 shares of the pharmacy operator's stock valued at $380,000 after purchasing an additional 291 shares during the period. Level Four Advisory Services LLC lifted its holdings in CVS Health by 50.7% during the 1st quarter. Level Four Advisory Services LLC now owns 146,601 shares of the pharmacy operator's stock worth $9,932,000 after buying an additional 49,307 shares during the last quarter. Heritage Financial Services LLC purchased a new stake in CVS Health during the 1st quarter worth about $259,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in CVS Health by 2.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 306,260 shares of the pharmacy operator's stock worth $20,740,000 after buying an additional 5,941 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

CVS Health Stock Performance

NYSE CVS traded down $0.2560 during trading hours on Friday, reaching $71.1740. The company's stock had a trading volume of 6,982,068 shares, compared to its average volume of 8,748,738. The business has a 50-day simple moving average of $65.50 and a 200 day simple moving average of $65.18. The stock has a market cap of $90.27 billion, a PE ratio of 19.88, a PEG ratio of 0.79 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's payout ratio is presently 74.30%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVS shares. Bernstein Bank reduced their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Truist Financial upped their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Jefferies Financial Group upped their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Finally, UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of "Buy" and a consensus price target of $76.67.

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.