Connor Clark & Lunn Investment Management Ltd. acquired a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,169,603 shares of the pharmacy operator's stock, valued at approximately $120,995,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of CVS Health at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CVS. Sei Investments Co. increased its position in CVS Health by 17.4% in the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator's stock valued at $62,474,000 after buying an additional 134,535 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in CVS Health by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator's stock valued at $77,353,000 after purchasing an additional 13,329 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in CVS Health by 1.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator's stock worth $40,358,000 after purchasing an additional 7,588 shares in the last quarter. HUB Investment Partners LLC boosted its holdings in CVS Health by 25.0% during the 2nd quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator's stock worth $1,039,000 after acquiring an additional 3,011 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in CVS Health by 8.0% during the second quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator's stock worth $111,017,000 after purchasing an additional 119,439 shares during the last quarter. Institutional investors own 80.66% of the company's stock.
Wall Street Analysts Forecast Growth
CVS has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of CVS Health from $103.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Bank of America boosted their price objective on CVS Health from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Truist Financial upped their target price on shares of CVS Health from $108.00 to $118.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. DA Davidson lifted their price target on CVS Health from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of CVS Health from $94.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Twenty-two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.17.
Read Our Latest Analysis on CVS
CVS Health Stock Performance
Shares of CVS stock opened at $93.01 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52 week low of $69.51 and a 52 week high of $110.68. The firm has a market capitalization of $118.96 billion, a PE ratio of 24.61, a P/E/G ratio of 0.85 and a beta of 0.61. The company has a 50 day moving average price of $102.02 and a 200-day moving average price of $88.95.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business had revenue of $106.10 billion for the quarter, compared to analysts' expectations of $100.03 billion. During the same quarter last year, the company posted $1.81 EPS. The company's revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, equities research analysts expect that CVS Health Corporation will post 8.02 earnings per share for the current year.
CVS Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, July 23rd. CVS Health's payout ratio is currently 70.37%.
CVS Health Company Profile
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Free Report)
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
See Also
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