Generali Asset Management SPA SGR Sells 37,650 Shares of CVS Health Corporation $CVS

Key Points

• Generali Asset Management SPA SGR sold 37,650 shares of CVS Health, reducing its holdings by 38.4%, leaving it with 60,506 shares valued at approximately $4.17 million.
• Multiple hedge funds have recently increased their positions in CVS Health, with GAMMA Investing LLC growing its stake by 198.5% during the first quarter.
• CVS Health's quarterly earnings exceeded expectations, reporting $1.81 EPS and revenue of $98.92 billion, reflecting an 8.4% year-over-year growth.

Generali Asset Management SPA SGR decreased its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 38.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,506 shares of the pharmacy operator's stock after selling 37,650 shares during the quarter. Generali Asset Management SPA SGR's holdings in CVS Health were worth $4,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVS. GAMMA Investing LLC grew its stake in shares of CVS Health by 198.5% during the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator's stock valued at $1,265,000 after buying an additional 12,415 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of CVS Health during the first quarter valued at approximately $746,000. Mission Wealth Management LP bought a new position in shares of CVS Health during the first quarter valued at approximately $259,000. Janney Montgomery Scott LLC grew its stake in CVS Health by 21.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,098 shares of the pharmacy operator's stock worth $21,348,000 after purchasing an additional 56,156 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in CVS Health by 88.4% in the first quarter. Sagespring Wealth Partners LLC now owns 12,741 shares of the pharmacy operator's stock worth $863,000 after purchasing an additional 5,980 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. Bernstein Bank dropped their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 16th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Mizuho increased their price objective on CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Sanford C. Bernstein increased their price objective on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research note on Friday, September 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of CVS Health in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.05.

CVS Health Stock Performance

NYSE CVS opened at $80.75 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $81.93. The company has a market capitalization of $102.42 billion, a PE ratio of 22.56, a P/E/G ratio of 0.88 and a beta of 0.60. The company has a fifty day moving average of $73.30 and a two-hundred day moving average of $67.92.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. CVS Health's revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio is currently 74.30%.

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.

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