Voleon Capital Management LP Buys 36,936 Shares of CVS Health Corporation $CVS

Key Points

• Voleon Capital Management LP significantly increased its stake in CVS Health Corporation by 427.8% during the first quarter, acquiring an additional 36,936 shares, bringing its total holdings to approximately $3.1 million.
• Multiple analysts have upgraded CVS Health's ratings, with UBS and Robert W. Baird assigning buy ratings and raised price targets, reflecting positive sentiment in the stock.
• CVS Health reported better-than-expected earnings for the last quarter, with an EPS of $1.81 compared to the consensus estimate of $1.46, and a revenue of $98.92 billion, up 8.4% year-over-year.

Voleon Capital Management LP lifted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 427.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,570 shares of the pharmacy operator's stock after acquiring an additional 36,936 shares during the period. Voleon Capital Management LP's holdings in CVS Health were worth $3,087,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the period. Saudi Central Bank bought a new position in shares of CVS Health in the first quarter worth about $34,000. Costello Asset Management INC boosted its stake in shares of CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after acquiring an additional 422 shares during the period. Stone House Investment Management LLC bought a new position in CVS Health during the first quarter valued at approximately $39,000. Finally, Park Square Financial Group LLC bought a new position in CVS Health during the fourth quarter valued at approximately $43,000. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVS shares. Wall Street Zen lowered CVS Health from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays increased their price target on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and increased their price target for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $77.89.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction 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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.22% of the company's stock.

CVS Health Trading Up 0.4%

Shares of NYSE CVS traded up $0.33 during midday trading on Friday, hitting $75.00. The company's stock had a trading volume of 6,400,711 shares, compared to its average volume of 6,903,319. 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 business's 50 day moving average is $67.11 and its two-hundred day moving average is $66.30. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55. The firm has a market cap of $95.12 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62.

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, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the prior year, the business posted $1.83 earnings per share. The company's revenue for the quarter 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 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio is presently 74.30%.

About CVS Health

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.