Cinctive Capital Management LP Invests $11.27 Million in CVS Health Corporation $CVS

Key Points

• Cinctive Capital Management LP acquired 166,290 shares of CVS Health valued at approximately $11,266,000, making it the fund's 23rd largest position.
• CVS Health reported earnings of $1.81 per share for the recent quarter, exceeding analysts' expectations, with a revenue of $98.92 billion.
• The company recently announced a quarterly dividend of $0.665 per share, resulting in an annualized yield of 3.6%.

Cinctive Capital Management LP acquired a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 166,290 shares of the pharmacy operator's stock, valued at approximately $11,266,000. CVS Health comprises 0.9% of Cinctive Capital Management LP's investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors have also bought and sold shares of CVS. Saudi Central Bank bought a new stake in shares of CVS Health in the 1st quarter worth $34,000. Costello Asset Management INC lifted its holdings in CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of CVS Health in the first quarter worth about $39,000. GW&K Investment Management LLC lifted its stake in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after buying an additional 180 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares during the period. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVS shares. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Morgan Stanley upped 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. Truist Financial upped their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Buy" and a consensus price target of $77.89.

CVS Health Price Performance

Shares of CVS traded up $2.45 during midday trading on Tuesday, reaching $72.71. The stock had a trading volume of 5,529,227 shares, compared to its average volume of 9,606,411. The company has a market capitalization of $92.21 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. 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 12-month low of $43.56 and a 12-month high of $74.53. The company's 50-day moving average is $66.63 and its 200 day moving average is $66.05.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company's stock.

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.