CVS Health Corporation $CVS Shares Purchased by Means Investment CO. Inc.

Key Points

• Means Investment CO. Inc. increased its holdings in CVS Health Corporation by 184.4% during the 2nd quarter, owning 11,879 shares valued at approximately $819,000 at the end of the period.
• CVS Health's quarterly earnings surpassed estimates with an EPS of $1.81, beating the consensus estimate of $1.46, while revenues rose 8.4% year-over-year to $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share to be paid on November 3rd, reflecting a 3.4% yield and a dividend payout ratio of 74.30%.

Means Investment CO. Inc. grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 184.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,879 shares of the pharmacy operator's stock after purchasing an additional 7,702 shares during the period. Means Investment CO. Inc.'s holdings in CVS Health were worth $819,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock worth $28,264,000 after buying an additional 6,615 shares during the period. Cerity Partners LLC boosted its stake in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after buying an additional 183,813 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after acquiring an additional 572,533 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bernstein Bank lowered their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Barclays lifted their target price on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Morgan Stanley lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.80.

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 value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Price Performance

Shares of NYSE CVS opened at $77.89 on Friday. 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 1-year low of $43.56 and a 1-year high of $79.20. The company has a market capitalization of $98.79 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.86 and a beta of 0.60. The business has a 50-day moving average of $72.28 and a 200-day moving average of $67.67.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for 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%.CVS Health's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $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 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

CVS Health Company Profile

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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