CVS Health Corporation $CVS Shares Sold by CX Institutional

Key Points

• CX Institutional cut its CVS Health stake by 86% in the third quarter, selling 86,515 shares and retaining 14,141 shares worth approximately $1.21 million. Institutional investors and hedge funds collectively own 80.66% of the company.
• CVS reported strong quarterly results, with EPS of $2.58 versus the $1.87 consensus and revenue of $106.1 billion, up 7.3% year over year. Analysts expect approximately $8.02 in EPS for the current year.
• The company declared a quarterly dividend of $0.665 per share, equivalent to a 3.1% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $107.24.

CX Institutional lessened its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 86.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,141 shares of the pharmacy operator's stock after selling 86,515 shares during the period. CX Institutional's holdings in CVS Health were worth $1,212,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of CVS Health during the 2nd quarter worth approximately $12,747,462,000. State Street Corp increased its stake in shares of CVS Health by 26.3% in the 2nd quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator's stock valued at $7,751,205,000 after acquiring an additional 15,604,883 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CVS Health by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator's stock valued at $2,398,868,000 after acquiring an additional 13,836,701 shares during the period. Pzena Investment Management LLC bought a new position in CVS Health during the second quarter worth $1,217,558,000. Finally, Wellington Management Group LLP boosted its stake in CVS Health by 49.8% during the second quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator's stock worth $3,496,725,000 after acquiring an additional 11,233,381 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 1.4%

NYSE CVS opened at $86.40 on Friday. The business's fifty day moving average is $94.68 and its 200-day moving average is $91.90. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The stock has a market capitalization of $110.50 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.84 and a beta of 0.60. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. During the same quarter last year, the business posted $1.81 EPS. CVS Health's quarterly revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Equities research analysts predict that CVS Health Corporation will post 8.02 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd will be issued a $0.6650 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, October 22nd. CVS Health's dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Argus raised their target price on CVS Health from $104.00 to $114.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $112.00 price target on shares of CVS Health in a report on Wednesday, September 9th. BMO Capital Markets set a $112.00 price objective on CVS Health in a report on Wednesday, September 9th. HSBC reaffirmed a "hold" rating and set a $103.00 target price on shares of CVS Health in a research report on Monday, July 6th. Finally, Wells Fargo & Company increased their target price on CVS Health from $103.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Twenty-two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $107.24.

CVS Health Profile

CVS Health Corp. is an integrated health care company that provides pharmacy, insurance and health services primarily in the United States. Its operations are designed to connect consumers, health plans, health care providers and pharmacy services across multiple points of care.

The company's major businesses include CVS Pharmacy retail locations, prescription fulfillment and consumer health products; CVS Caremark, a pharmacy benefit management business; and Aetna, which offers health insurance products and related services for employers, individuals, government programs and other organizations.

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