Exchange Traded Concepts LLC Raises Holdings in CVS Health Corporation $CVS

Exchange Traded Concepts LLC grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 26.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,371 shares of the pharmacy operator's stock after buying an additional 3,829 shares during the period. Exchange Traded Concepts LLC's holdings in CVS Health were worth $1,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Polianta Ltd purchased a new position in shares of CVS Health during the 2nd quarter valued at $1,414,000. Wedmont Private Capital raised its stake in shares of CVS Health by 9.7% during the 2nd quarter. Wedmont Private Capital now owns 12,191 shares of the pharmacy operator's stock valued at $813,000 after purchasing an additional 1,081 shares during the period. Swedbank AB raised its stake in shares of CVS Health by 57.9% during the 2nd quarter. Swedbank AB now owns 2,242,914 shares of the pharmacy operator's stock valued at $154,716,000 after purchasing an additional 822,648 shares during the period. Secure Asset Management LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at $204,000. Finally, Baader Bank Aktiengesellschaft raised its stake in shares of CVS Health by 62.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,253 shares of the pharmacy operator's stock valued at $430,000 after purchasing an additional 2,411 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVS shares. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Sunday. Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Trading Up 0.5%

NYSE CVS opened at $75.28 on Tuesday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $76.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock has a 50 day simple moving average of $68.13 and a two-hundred day simple moving average of $66.70. The stock has a market cap of $95.48 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The company 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 firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Insider Activity at CVS Health

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

CVS Health 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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).

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.