CVS Health Corporation $CVS Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its CVS Health stake by 11.6% in the first quarter, selling 1.81 million shares and leaving it with 13.77 million shares worth about $989 million.
• Insider selling has also been heavy, including a large sale by director Larry Robbins and additional selling by EVP Tilak Mandadi; insiders sold 3.44 million CVS shares over the last 90 days.
• Wall Street sentiment remains constructive, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $101.28, while CVS also reported better-than-expected quarterly earnings and revenue.

Pzena Investment Management LLC reduced its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,773,053 shares of the pharmacy operator's stock after selling 1,808,254 shares during the period. CVS Health makes up 3.2% of Pzena Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Pzena Investment Management LLC owned about 1.07% of CVS Health worth $989,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vision Capital Management Inc. raised its stake in CVS Health by 2.0% during the 1st quarter. Vision Capital Management Inc. now owns 48,713 shares of the pharmacy operator's stock valued at $3,499,000 after acquiring an additional 974 shares during the last quarter. Essex Financial Services Inc. lifted its position in CVS Health by 6.9% during the 1st quarter. Essex Financial Services Inc. now owns 21,384 shares of the pharmacy operator's stock worth $1,536,000 after acquiring an additional 1,389 shares during the period. Financial Life Planners purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $48,000. USS Investment Management Ltd increased its holdings in shares of CVS Health by 5.4% in the first quarter. USS Investment Management Ltd now owns 232,198 shares of the pharmacy operator's stock valued at $16,678,000 after purchasing an additional 11,961 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in shares of CVS Health by 2.1% during the first quarter. IFM Investors Pty Ltd now owns 246,725 shares of the pharmacy operator's stock worth $17,720,000 after purchasing an additional 5,076 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, Director Larry Robbins sold 1,983,538 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the sale, the director owned 6,213,261 shares in the company, valued at $586,842,501.45. This represents a 24.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of CVS Health stock in a transaction on Friday, May 8th. The stock was sold at an average price of $89.58, for a total value of $6,230,378.58. Following the transaction, the executive vice president directly owned 10,133 shares of the company's stock, valued at approximately $907,714.14. This represents a 87.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,441,551 shares of company stock worth $323,703,977 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVS. Robert W. Baird increased their price target on CVS Health from $92.00 to $94.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. Argus upped their price objective on shares of CVS Health from $90.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Wall Street Zen cut shares of CVS Health from a "buy" rating to a "hold" rating in a research note on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of CVS Health in a report on Thursday, June 11th. Finally, Wells Fargo & Company increased their price target on shares of CVS Health from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $101.28.

Key Headlines Impacting CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Analysts highlighted CVS Health’s strong earnings surprise track record and said the company appears positioned to beat estimates again in its next quarterly report, which supports sentiment around future profits. Will CVS Health (CVS) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: CVS was also featured in a CNBC report about Medicare beginning to cover obesity drugs, with CVS and Walmart helping seniors navigate the new coverage landscape, underscoring CVS’s role in a growing healthcare service area. Healthy Returns: Walmart, CVS step in to help seniors navigate Medicare coverage of obesity drugs
• Positive Sentiment: CVS Health also published consumer-health content on women’s health and preventive screenings, reinforcing its push to drive pharmacy, clinic, and health-services engagement. CVS Health: A Menopause Revolution Is Long Overdue
• Positive Sentiment: An executive from CVS Health was named to Choice Hotels’ board, which is a small signal of leadership visibility and management credibility. Choice Hotels International Appoints Artificial Intelligence Leader Ali Keshavarz to Board of Directors
• Neutral Sentiment: A healthcare-advice article said UnitedHealth, Humana, and CVS denied post-hospital care at some of the highest rates, which could keep attention on utilization management and prior-authorization practices, but the piece does not provide a direct financial update. UnitedHealth, Humana, CVS Denied Post-Hospital Care At Some Of The Highest Rates
• Neutral Sentiment: CVS also appeared in coverage of its support for America250, which is mainly a branding/community-relations item and likely has limited near-term stock impact. CVS Health Exec Explains Why Its Support of America250 is ‘Natural Fit’

CVS Health Price Performance

CVS Health stock opened at $104.83 on Thursday. The company has a market cap of $133.75 billion, a P/E ratio of 46.18, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. CVS Health Corporation has a one year low of $58.50 and a one year high of $106.15. The business has a fifty day moving average of $93.44 and a two-hundred day moving average of $82.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.66 and a current ratio of 0.87.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.36. The business had revenue of $100.43 billion for the quarter, compared to analysts' expectations of $94.99 billion. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. As a group, analysts predict that CVS Health Corporation will post 7.44 earnings per share for the current fiscal year.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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