CVS Health Corporation $CVS Stock Position Raised by Empyrean Capital Partners LP

Key Points

• Empyrean Capital Partners increased its CVS Health stake by 11.3% in the fourth quarter, buying 117,500 more shares and lifting its position to 1.16 million shares valued at about $92.1 million.
• Insider selling has been significant, with Director Larry Robbins selling 1.98 million shares and EVP Tilak Mandadi selling 69,551 shares; insiders have sold 3.44 million shares over the past 90 days.
• Wall Street remains broadly positive on CVS Health, with 22 Buy ratings and four Hold ratings, and a consensus price target of $100.68 after the company beat earnings and revenue estimates in its latest quarter.

Empyrean Capital Partners LP grew its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,000 shares of the pharmacy operator's stock after acquiring an additional 117,500 shares during the period. CVS Health accounts for approximately 3.2% of Empyrean Capital Partners LP's portfolio, making the stock its 6th largest holding. Empyrean Capital Partners LP owned 0.09% of CVS Health worth $92,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Sei Investments Co. raised its position in shares of CVS Health by 17.4% in the second quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator's stock worth $62,474,000 after buying an additional 134,535 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of CVS Health by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator's stock worth $77,353,000 after buying an additional 13,329 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of CVS Health by 1.3% in the second quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator's stock worth $40,358,000 after buying an additional 7,588 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of CVS Health by 25.0% in the second quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator's stock worth $1,039,000 after buying an additional 3,011 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of CVS Health by 8.0% in the second quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator's stock worth $111,017,000 after buying an additional 119,439 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other news, Director Larry Robbins sold 1,983,538 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total transaction of $187,345,164.10. Following the transaction, the director directly owned 6,213,261 shares of the company's stock, valued at approximately $586,842,501.45. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at $907,714.14. This trade 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 ninety days. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wolfe Research lowered their price objective on CVS Health from $100.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, March 2nd. Wells Fargo & Company increased their price objective on CVS Health from $102.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their target price on CVS Health from $88.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Barclays increased their target price on CVS Health from $101.00 to $106.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Finally, Sanford C. Bernstein increased their target price on CVS Health from $94.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $100.68.

CVS Health Stock Down 1.6%

CVS opened at $99.06 on Thursday. The stock has a market cap of $126.40 billion, a PE ratio of 43.64, a P/E/G ratio of 0.99 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78. CVS Health Corporation has a 52 week low of $58.50 and a 52 week high of $102.77. The business's fifty day simple moving average is $88.51 and its 200 day simple moving average is $81.24.

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

About CVS Health

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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