Gateway Investment Advisers LLC Has $18.18 Million Position in CVS Health Corporation $CVS

Key Points

• Gateway Investment Advisers LLC reduced its stake in CVS Health by 15.7%, owning 263,515 shares worth approximately $18.2 million after selling 48,948 shares in the second quarter.
• CVS Health's stock has experienced a one-year low of $43.56 and a high of $75.55, currently trading at $73.46, with a market capitalization of $93.17 billion.
• The company reported $1.81 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of nearly $99 billion.

Gateway Investment Advisers LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 263,515 shares of the pharmacy operator's stock after selling 48,948 shares during the quarter. Gateway Investment Advisers LLC's holdings in CVS Health were worth $18,177,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC lifted 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 valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC raised its holdings in shares of CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CVS Health by 2.1% in the first 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 last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of CVS Health by 20.1% in the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after buying an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of CVS Health by 122.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator's stock valued at $38,289,000 after buying an additional 311,098 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.7%

NYSE CVS traded up $0.53 during trading on Friday, hitting $74.95. The stock had a trading volume of 13,414,318 shares, compared to its average volume of 6,679,727. The company has a market capitalization of $95.06 billion, a PE ratio of 20.94, a P/E/G ratio of 0.83 and a beta of 0.62. The company's 50-day moving average price is $67.91 and its two-hundred day moving average price is $66.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $76.24.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) 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 company had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business's revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health's payout ratio is presently 74.30%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bernstein Bank lowered their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Finally, Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.89.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

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.