3,698 Shares in CVS Health Corporation $CVS Bought by Connecticut Wealth Management LLC

Key Points

• Connecticut Wealth Management LLC acquired a new stake in CVS Health, purchasing 3,698 shares valued at approximately $251,000 in the first quarter.
• Insider trading activity includes Director Anne A. Finucane selling 7,500 shares for $532,650, reducing their ownership by 25.29%, while Director Guy P. Sansone acquired 1,570 shares, increasing their stake by 15.04%.
• Equities analysts have raised their price targets on CVS Health, with a consensus rating of "Buy" and an average price target of $77.56, following positive quarterly earnings that beat expectations.

Connecticut Wealth Management LLC acquired a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,698 shares of the pharmacy operator's stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cerity Partners LLC grew its stake in shares of CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp lifted its position in CVS Health by 2.1% in 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 acquiring an additional 183,813 shares during the last quarter. Fairfax Financial Holdings Ltd. Can purchased a new stake in shares of CVS Health in the fourth quarter valued at about $121,742,000. Finally, Brandywine Global Investment Management LLC raised its holdings 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 worth $231,808,000 after purchasing an additional 572,533 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Down 1.0%

Shares of CVS Health stock traded down $0.75 during midday trading on Wednesday, reaching $73.34. 6,699,485 shares of the company's stock traded hands, compared to its average volume of 5,714,227. The company has a market cap of $93.01 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $74.53. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company's 50 day simple moving average is $66.25 and its 200 day simple moving average is $65.83.

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 the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. CVS Health's payout ratio is 74.30%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVS. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Barclays increased their price objective on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and raised their price target for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, CVS Health presently has an average rating of "Buy" and a consensus target price of $77.56.

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.