CVS Health Corporation $CVS Stock Position Lifted by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd has increased its stake in CVS Health Corporation by 4.6%, holding 238,547 shares valued at approximately $16.5 million at the end of the most recent quarter.
• CVS Health announced a quarterly dividend of $0.665, reflecting a 3.6% annualized yield, with the payment date set for November 3rd.
• Analyst ratings remain positive, with two analysts giving CVS a Strong Buy rating and a consensus price target of $77.89.

IFM Investors Pty Ltd boosted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,547 shares of the pharmacy operator's stock after acquiring an additional 10,457 shares during the quarter. IFM Investors Pty Ltd's holdings in CVS Health were worth $16,455,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVS. Bell Investment Advisors Inc increased its position in CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after acquiring an additional 248 shares during the period. McIlrath & Eck LLC increased its position in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the period. Roxbury Financial LLC increased its position in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 202 shares during the period. Saudi Central Bank acquired a new stake in CVS Health in the 1st quarter valued at approximately $34,000. Finally, Livelsberger Financial Advisory acquired a new stake in CVS Health in the 2nd quarter valued at approximately $35,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVS. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Jefferies Financial Group lifted their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Bernstein Bank decreased their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Finally, Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.89.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

Shares of CVS Health stock opened at $74.40 on Friday. The stock has a market cap of $94.37 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The business has a fifty day simple moving average of $67.70 and a 200-day simple moving average of $66.55. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $75.55.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is 74.30%.

About CVS Health

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.