CVS Health Corporation $CVS Shares Bought by M&T Bank Corp

Key Points

• M&T Bank Corp raised its stake in CVS by 10.1% to 151,768 shares, valued at about $12.04 million in the latest 13F filing.
• CVS beat Q1 estimates with $1.09 EPS (vs. $1.00 expected) and $105.69 billion in revenue (+8.2% Y/Y), and set FY2026 EPS guidance of 5.94–6.14 while analysts forecast roughly 7.14 EPS.
• CVS Caremark will prefer lower‑cost interchangeable biosimilars (including dropping J&J’s Stelara from main formularies on July 1), a move expected to lower drug spend for clients and improve PBM margins while potentially pressuring brand drug revenue.

M&T Bank Corp grew its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,768 shares of the pharmacy operator's stock after purchasing an additional 13,943 shares during the period. M&T Bank Corp's holdings in CVS Health were worth $12,044,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Quadcap Wealth Management LLC acquired a new stake in CVS Health in the fourth quarter worth $213,000. Ashton Thomas Private Wealth LLC increased its position in CVS Health by 47.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 18,338 shares of the pharmacy operator's stock worth $1,455,000 after buying an additional 5,861 shares during the period. RMR Wealth Builders increased its position in CVS Health by 5.7% in the fourth quarter. RMR Wealth Builders now owns 13,755 shares of the pharmacy operator's stock worth $1,092,000 after buying an additional 742 shares during the period. Anchyra Partners LLC acquired a new stake in CVS Health in the fourth quarter worth $213,000. Finally, Nippon Life Global Investors Americas Inc. increased its position in CVS Health by 13.8% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 101,550 shares of the pharmacy operator's stock worth $8,059,000 after buying an additional 12,300 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

NYSE CVS opened at $80.67 on Wednesday. CVS Health Corporation has a 12 month low of $58.35 and a 12 month high of $85.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.84 and a quick ratio of 0.63. The firm has a market capitalization of $103.39 billion, a PE ratio of 58.46, a P/E/G ratio of 0.86 and a beta of 0.60. The company's 50 day simple moving average is $76.40 and its 200 day simple moving average is $77.96.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. CVS Health had a net margin of 0.44% and a return on equity of 11.31%. The business had revenue of $105.69 billion for the quarter, compared to analyst estimates of $103.67 billion. During the same quarter last year, the business earned $1.19 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 5.940-6.140 EPS. As a group, equities research analysts forecast that CVS Health Corporation will post 7.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, April 23rd. CVS Health's dividend payout ratio (DPR) is currently 192.75%.

Key Headlines Impacting CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: CVS Caremark will expand adoption of lower‑cost biosimilars across its commercial formularies effective July 1, preferring interchangeable biosimilars over certain reference brands — a move that should lower drug spend for clients and improve PBM margins. PR Newswire: CVS Caremark Expands Biosimilar Adoption
• Positive Sentiment: CVS said it will prefer lower‑cost interchangeable biosimilars over J&J’s Stelara on its main formularies starting July 1 — a direct cost‑management step that can improve margins but may pressure revenues for affected brand drugs. Reuters: CVS to drop J&J's Stelara
• Positive Sentiment: HSBC raised its price target on CVS to $85 (hold), signaling modest analyst confidence in upside tied to the company’s earnings and cost actions. That provides some near‑term support for the stock. MarketScreener: HSBC adjusts price target on CVS
• Positive Sentiment: Media and commentators (including Jim Cramer) are expressing optimism that CVS will report a strong quarter, which can buoy sentiment into earnings. InsiderMonkey: Jim Cramer on CVS quarter
• Neutral Sentiment: Investor previews and analysts flag Q1 results and cost trends/margins as the main near‑term focus; outcomes on utilization and PBM pricing will determine stock direction after the print. MSN: CVS Q1 earnings preview
• Neutral Sentiment: Coverage notes investors are watching cost trends and margins closely in the upcoming earnings release; PBM results and medical cost trajectories will be key. Seeking Alpha: CVS earnings in focus
• Neutral Sentiment: Analysts/press point to two hurdles in the quarter (operational/cost execution and broader healthcare demand); Aetna’s strength in Medicare Advantage is a stabilizer but may not fully offset other pressures. Yahoo Finance: Two hurdles to clear
• Neutral Sentiment: CVS Health Ventures made a strategic investment in Fathom to accelerate autonomous coding — a longer‑term efficiency play that could reduce administrative costs across the enterprise. Yahoo Finance: Fathom secures investment
• Negative Sentiment: An opinion piece questions the CVS affiliation with Mass General Brigham — while the partnership could expand primary‑care access, it raises concerns about costs, care continuity and potential regulatory/competitive scrutiny that could complicate execution and investor sentiment. Boston Globe: CVS affiliation with Mass General Brigham
• Neutral Sentiment: Industry retail shakeups (reports of rivals closing stores) highlight tough store economics in some markets — an indirect signal that pharmacy/retail footprint optimization remains relevant for CVS strategy. TheStreet: Competitor store closures

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVS. Sanford C. Bernstein raised CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $91.00 to $94.00 in a research report on Thursday, March 12th. Argus lowered their target price on CVS Health from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, January 28th. TD Cowen restated a "buy" rating on shares of CVS Health in a research report on Friday, March 13th. Piper Sandler lowered their target price on CVS Health from $101.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Bank of America lowered their target price on CVS Health from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.61.

About CVS Health

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.

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