Thematics Asset Management reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 13.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,911 shares of the pharmacy operator's stock after selling 10,118 shares during the quarter. Thematics Asset Management's holdings in CVS Health were worth $4,533,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Costello Asset Management INC boosted its holdings in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after purchasing an additional 422 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of CVS Health in the 1st quarter worth about $39,000. GW&K Investment Management LLC boosted its holdings in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of 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 purchasing an additional 172 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on CVS shares. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Morgan Stanley boosted their target price on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Bernstein Bank lowered their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, CVS Health has an average rating of "Buy" and an average target price of $77.56.
Get Our Latest Research Report on CVS Health
CVS Health Trading Up 0.5%
CVS traded up $0.39 during midday trading on Wednesday, reaching $71.94. 3,586,239 shares of the company's stock traded hands, compared to its average volume of 8,055,836. The firm has a fifty day moving average of $65.66 and a two-hundred day moving average of $65.42. The stock has a market capitalization of $91.24 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 0.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.
CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.
Insider Activity at CVS Health
In other news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by insiders.
About CVS Health
(
Free Report)
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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