Edmond DE Rothschild Holding S.A. Sells 478,924 Shares of CVS Health Corporation $CVS

Key Points

• Edmond DE Rothschild Holding S.A. has reduced its holdings in CVS Health by 42.3%, now owning approximately 0.05% of the company, valued at $44.25 million after selling 478,924 shares.
• CVS Health has reported a strong earnings performance, with $1.81 EPS, beating estimates and an 8.4% increase in revenue year-over-year.
• The company also announced a quarterly dividend of $0.665 per share, reflecting a 3.6% yield at an annualized rate of $2.66.

Edmond DE Rothschild Holding S.A. trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 42.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 653,100 shares of the pharmacy operator's stock after selling 478,924 shares during the quarter. Edmond DE Rothschild Holding S.A. owned approximately 0.05% of CVS Health worth $44,248,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Cary Street Partners Financial LLC acquired a new position in shares of CVS Health in the 4th quarter worth $647,000. Brevan Howard Capital Management LP purchased a new position in CVS Health in the fourth quarter valued at about $1,134,000. Cetera Investment Advisers grew its stake in CVS Health by 2.1% in the fourth quarter. Cetera Investment Advisers now owns 318,779 shares of the pharmacy operator's stock valued at $14,310,000 after purchasing an additional 6,524 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of CVS Health by 18.6% during the 4th quarter. CoreCap Advisors LLC now owns 4,328 shares of the pharmacy operator's stock worth $194,000 after acquiring an additional 679 shares in the last quarter. Finally, Collar Capital Management LLC bought a new stake in shares of CVS Health during the 4th quarter worth about $520,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Barclays boosted their price objective on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday. Bernstein Bank cut their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $77.89.

CVS Health Stock Performance

CVS Health stock traded up $0.07 during trading hours on Friday, hitting $73.76. The stock had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. The company has a 50-day moving average of $66.60 and a two-hundred day moving average of $65.99. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company has a market cap of $93.56 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $74.53.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm 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%.The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.6%. CVS Health's dividend payout ratio is 74.30%.

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.