CVS Health Corporation $CVS Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC reduced its stake in CVS Health Corporation by 13.5%, owning 305,779 shares after selling 47,880 shares in the first quarter.
• CVS Health reported $1.81 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $1.46, with revenue increasing 8.4% year-over-year.
• The company announced a quarterly dividend of $0.665, resulting in an annual yield of 3.7%, with a payout ratio of 74.30%.

Guggenheim Capital LLC lessened its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 305,779 shares of the pharmacy operator's stock after selling 47,880 shares during the quarter. Guggenheim Capital LLC's holdings in CVS Health were worth $20,717,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Costello Asset Management INC increased its stake 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 during the period. Stone House Investment Management LLC bought a new stake in CVS Health during the first quarter worth approximately $39,000. GW&K Investment Management LLC boosted its holdings in CVS Health by 39.4% during the first 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. Hemington Wealth Management boosted its holdings in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research reports. Bernstein Bank reduced 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. Morgan Stanley raised their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays raised their target price on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial raised their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $77.56.

CVS Health Stock Up 0.5%

CVS stock opened at $71.57 on Wednesday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. 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 company has a market cap of $90.78 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.79 and a beta of 0.58. The company has a 50 day moving average of $65.66 and a two-hundred day moving average of $65.42.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results 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 net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. The company'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. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.7%. CVS Health's dividend payout ratio is presently 74.30%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.

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