Evergreen Capital Management LLC Buys 7,579 Shares of CVS Health Corporation $CVS

Key Points

• Evergreen Capital Management LLC increased its holdings in CVS Health Corporation by 61.6% in the first quarter, acquiring an additional 7,579 shares and bringing its total to 19,885 shares valued at $1,347,000.
• Several institutional investors also boosted their positions in CVS Health, with Canada Pension Plan Investment Board increasing its stake by 15.5% to hold 918,127 shares valued at $62,203,000.
• CVS Health recently reported a $1.81 earnings per share (EPS) for the quarter, exceeding analyst expectations, and has set an EPS guidance of 6.300-6.400 for FY 2025.

Evergreen Capital Management LLC lifted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 61.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,885 shares of the pharmacy operator's stock after purchasing an additional 7,579 shares during the quarter. Evergreen Capital Management LLC's holdings in CVS Health were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Costello Asset Management INC grew its stake 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 valued at $39,000 after buying an additional 422 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of CVS Health in the 1st quarter valued at approximately $39,000. GW&K Investment Management LLC raised its stake 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 valued at $43,000 after acquiring an additional 180 shares in the last quarter. Hemington Wealth Management raised its stake 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 valued at $46,000 after acquiring an additional 172 shares in the last quarter. Finally, McIlrath & Eck LLC raised its stake 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 valued at $32,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS traded up $0.07 on Thursday, hitting $73.39. 2,928,961 shares of the stock traded hands, compared to its average volume of 9,628,601. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $74.53. 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 firm has a market capitalization of $93.08 billion, a PE ratio of 20.49, a P/E/G ratio of 0.81 and a beta of 0.62. The business has a fifty day moving average price of $66.39 and a two-hundred day moving average price of $65.89.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. 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 dividend payout ratio (DPR) is currently 74.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley raised their price objective on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Cantor Fitzgerald restated an "overweight" rating and set a $78.00 target price on shares of CVS Health in a research note on Tuesday, August 26th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Barclays increased their target price on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday. Two investment 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 stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of "Buy" and an average target price of $77.94.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is currently owned by corporate insiders.

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.