BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in CVS Health Corporation $CVS

Key Points

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BI Asset Management Fondsmaeglerselskab A S decreased its position in CVS Health Corporation (NYSE:CVS - Free Report) by 30.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,722 shares of the pharmacy operator's stock after selling 142,345 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in CVS Health were worth $22,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. McIlrath & Eck LLC raised its holdings in shares of CVS Health by 32.6% during the fourth 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. Costello Asset Management INC increased its holdings in shares of CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of CVS Health during the first quarter valued at $39,000. Park Square Financial Group LLC bought a new stake in CVS Health in the 4th quarter worth about $43,000. Finally, GW&K Investment Management LLC increased its holdings in 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 buying an additional 180 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 0.4%

Shares of CVS stock traded down $0.2560 on Friday, hitting $71.1740. The stock had a trading volume of 6,982,068 shares, compared to its average volume of 8,748,738. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $65.50 and a 200 day moving average price of $65.11. The company has a market cap of $90.27 billion, a PE ratio of 19.88, a P/E/G ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $94.87 billion. During the same period in the prior year, the business posted $1.83 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVS. Bernstein Bank cut their price target 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. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Two equities research 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. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $76.67.

Insiders Place Their Bets

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.

CVS Health 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.