Edgar Lomax Co. VA Boosts Stake in CVS Health Corporation $CVS

Key Points

• Edgar Lomax Co. VA has increased its stake in CVS Health Corporation by 38.3%, making it the company's biggest holding with a current value of approximately $83.08 million.
• CVS Health reported a net revenue of $98.92 billion for the last quarter, surpassing analysts' expectations, and achieved earnings per share of $1.81.
• The company recently announced a quarterly dividend of $0.665 per share, reflecting an annualized dividend yield of 3.9%.

Edgar Lomax Co. VA raised its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 38.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,226,235 shares of the pharmacy operator's stock after purchasing an additional 339,405 shares during the period. CVS Health accounts for about 5.2% of Edgar Lomax Co. VA's holdings, making the stock its largest holding. Edgar Lomax Co. VA owned about 0.10% of CVS Health worth $83,077,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC raised its position in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Costello Asset Management INC raised its position in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of CVS Health in the 1st quarter worth approximately $39,000. Park Square Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter worth approximately $43,000. Finally, GW&K Investment Management LLC raised its position in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Ratings Changes

CVS has been the subject of several research reports. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Truist Financial upped their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Morgan Stanley upped their price target on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of "Buy" and a consensus price target of $76.67.

CVS Health Stock Down 0.4%

CVS traded down $0.2560 during trading on Friday, hitting $71.1740. 6,980,767 shares of the company's stock traded hands, compared to its average volume of 9,836,601. The company's 50 day simple moving average is $65.43 and its two-hundred day simple moving average is $65.01. The company has a current ratio of 0.80, a quick ratio of 0.62 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 $72.51. The stock has a market capitalization of $90.27 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 0.78 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. CVS Health'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. Analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Insiders Place Their Bets

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Company 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.