CVS Health Corporation $CVS Stake Increased by Calamos Advisors LLC

Key Points

• Calamos Advisors boosted its CVS stake by 92.6% in Q4 to 424,683 shares (roughly $33.7M), contributing to the ~80.7% institutional ownership of the stock.
• CVS faces material regulatory risk after Tennessee passed a law restricting pharmacies from owning PBMs; the company warns of possible store closures and is preparing legal challenges if similar laws spread.
• CVS topped Q results (revenue +8.2%, EPS $1.09), announced a quarterly dividend of $0.665 (3.4% yield) despite a high payout ratio (~193%), and retains a “Moderate Buy” analyst consensus with an average price target near $95.

Calamos Advisors LLC grew its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 92.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,683 shares of the pharmacy operator's stock after purchasing an additional 204,165 shares during the period. Calamos Advisors LLC's holdings in CVS Health were worth $33,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service raised its holdings in shares of CVS Health by 3.1% during the third quarter. National Pension Service now owns 3,999,622 shares of the pharmacy operator's stock worth $301,532,000 after acquiring an additional 119,189 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of CVS Health by 316.2% during the third quarter. Kingsview Wealth Management LLC now owns 104,432 shares of the pharmacy operator's stock worth $7,873,000 after acquiring an additional 79,340 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of CVS Health by 6.2% during the third quarter. AE Wealth Management LLC now owns 257,204 shares of the pharmacy operator's stock worth $19,391,000 after acquiring an additional 14,983 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CVS Health by 11.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 225,116 shares of the pharmacy operator's stock worth $16,971,000 after acquiring an additional 22,653 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC raised its holdings in CVS Health by 12.3% during the third quarter. Alpha Omega Wealth Management LLC now owns 149,902 shares of the pharmacy operator's stock valued at $11,301,000 after buying an additional 16,418 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America cut their target price on CVS Health from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday, January 27th. Piper Sandler cut their target price on CVS Health from $101.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Argus cut their target price on CVS Health from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, January 28th. Leerink Partners restated an "outperform" rating and set a $98.00 target price on shares of CVS Health in a report on Thursday, March 5th. Finally, Wolfe Research cut their target price on CVS Health from $100.00 to $97.00 and set an "outperform" rating on the stock in a report on Monday, March 2nd. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.05.

Key CVS Health News

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

• Positive Sentiment: Aetna (a CVS Health company) reported measurable progress simplifying prior authorization, which should reduce administrative costs and speed care delivery—potentially improving medical cost trends and margins for the health-insurance segment. Aetna Announces Progress on Industry Leading Efforts to Simplify Prior Authorization
• Positive Sentiment: Major U.S. insurers (including Aetna and UnitedHealthcare) are coordinating to standardize electronic prior authorization — a structural change that could cut administrative friction across payors and providers, benefiting CVS’s insurance and PBM businesses over time. U.S. Health Insurers Step Up Prior Authorization Reforms
• Neutral Sentiment: CVS is pursuing packaging and sustainability changes (e.g., swapping foam and other supplier moves) that lower costs and environmental footprint, but these are incremental operational items unlikely to move near-term earnings materially. Packaging innovations: CVS Health swaps foam, PPG coats pet food cans
• Neutral Sentiment: Recent market-coverage pieces note modest share weakness in the last session; this reflects a mix of sector moves and headline sensitivity rather than fresh company-specific fundamentals. CVS Health (CVS) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Tennessee passed a bill restricting pharmacies from owning PBMs; CVS warns the law could force many store closures and plans to sue—this represents direct state-level regulatory risk to retail pharmacy revenue and PBM economics. Legislation to ban pharmacies from owning PBMs heads to Gov. Lee's desk, CVS Health may close Tenn. locations
• Negative Sentiment: Multiple outlets report CVS is preparing legal fights and warning of large-scale closures if similar PBM restrictions spread—heightening investor concern about regulatory contagion and potential earnings downside. CVS fights law that could force over 100 stores to close
• Negative Sentiment: Analysis of the Mass General Brigham–CVS primary care arrangement flags potential hidden access costs (~$40M) that could pressure the economics of CVS’s expanding primary care footprint. Mass General Brigham, CVS Primary Care Deal Could Have a $40M Hidden Cost of Access

CVS Health Stock Down 1.2%

CVS stock opened at $77.92 on Friday. CVS Health Corporation has a twelve month low of $58.35 and a twelve month high of $85.15. The company has a market cap of $99.86 billion, a PE ratio of 56.46, a price-to-earnings-growth ratio of 0.82 and a beta of 0.51. The business's 50-day simple moving average is $76.02 and its 200 day simple moving average is $77.85. The company has a quick ratio of 0.63, a current ratio of 0.84 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Tuesday, February 10th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. CVS Health had a return on equity of 11.31% and a net margin of 0.44%.The business had revenue of $105.69 billion for the quarter, compared to the consensus estimate of $103.67 billion. During the same period last year, the business earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 5.940-6.140 EPS. On average, research analysts anticipate that CVS Health Corporation will post 7.14 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Thursday, April 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health's dividend payout ratio (DPR) is 192.75%.

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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