Commerzbank Aktiengesellschaft FI Purchases 10,795 Shares of CVS Health Corporation $CVS

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in CVS Health by 19.9%, acquiring an additional 10,795 shares during the second quarter, bringing its total holdings to 64,971 shares valued at $4.48 million.
• CVS Health reported earnings of $1.81 EPS for its latest quarter, exceeding analysts' expectations of $1.46, with revenue increasing by 8.4% year-over-year to $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, scheduled for payment on November 3rd, which represents an annualized yield of 3.5%.

Commerzbank Aktiengesellschaft FI raised its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,971 shares of the pharmacy operator's stock after purchasing an additional 10,795 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in CVS Health were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock valued at $28,264,000 after purchasing an additional 6,615 shares during the last quarter. Cerity Partners LLC lifted its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp lifted its position in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after purchasing an additional 572,533 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 0.2%

NYSE:CVS opened at $76.78 on Friday. The company has a fifty day moving average of $71.98 and a 200 day moving average of $67.59. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.20. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $97.38 billion, a P/E ratio of 21.45, a P/E/G ratio of 0.85 and a beta of 0.60.

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

CVS Health Announces Dividend

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

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on shares of CVS Health from $84.00 to $103.00 and gave the stock an "overweight" rating in a report on Tuesday. Sanford C. Bernstein boosted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Morgan Stanley boosted their price objective 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. Two 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. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average target price of $79.80.

Insider Buying and Selling

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

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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