Coerente Capital Management Reduces Stock Holdings in CVS Health Corporation $CVS

Key Points

• Coerente Capital Management reduced its stake in CVS Health by 7.1%, holding approximately $7.5 million worth of shares after selling 8,360 shares during the second quarter.
• Analysts have adjusted their price targets for CVS Health, with Mizuho raising theirs from $76.00 to $88.00 while the average price target is now $79.80, indicating a consensus rating of "Moderate Buy."
• CVS Health reported quarterly earnings of $1.81 EPS, surpassing expectations, and announced a quarterly dividend of $0.665 per share, reflecting a yield of 3.5%.

Coerente Capital Management reduced its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,824 shares of the pharmacy operator's stock after selling 8,360 shares during the quarter. CVS Health accounts for approximately 1.4% of Coerente Capital Management's holdings, making the stock its 22nd largest holding. Coerente Capital Management's holdings in CVS Health were worth $7,507,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc raised its holdings 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 valued at $31,000 after buying an additional 248 shares during the period. Roxbury Financial LLC raised its holdings in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 202 shares during the period. ORG Partners LLC raised its holdings in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 377 shares during the period. Saudi Central Bank purchased a new stake in shares of CVS Health during the 1st quarter valued at about $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in CVS Health during the 2nd quarter worth approximately $35,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In related 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 transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CVS. Mizuho lifted their price objective on CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday. Weiss Ratings restated a "hold (c-)" rating on shares of CVS Health in a report on Saturday, September 27th. Wolfe Research lifted their price objective on CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Bernstein Bank dropped their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.80.

CVS Health Price Performance

Shares of NYSE CVS opened at $76.78 on Friday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $97.38 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The business has a 50 day simple moving average of $71.98 and a 200-day simple moving average of $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 earnings per share for the quarter, beating 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 business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the previous year, the business earned $1.83 EPS. The business's quarterly 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. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

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

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.

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