Glenview Trust co Cuts Position in CVS Health Corporation $CVS

Key Points

• Glenview Trust co reduced its holdings in CVS Health by 35.7%, selling 11,000 shares during the 1st quarter, leaving them with 19,785 shares valued at approximately $1.34 million.
• Multiple hedge funds have adjusted their stakes in CVS Health, with Bell Investment Advisors increasing their holdings by 119.8% and other firms also significantly adding to their positions.
• CVS Health reported earnings of $1.81 per share, exceeding the consensus estimate, along with quarterly revenue of $98.92 billion, marking an 8.4% year-over-year increase.

Glenview Trust co reduced its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 35.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,785 shares of the pharmacy operator's stock after selling 11,000 shares during the quarter. Glenview Trust co's holdings in CVS Health were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Bell Investment Advisors Inc increased its holdings in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after acquiring an additional 248 shares in the last quarter. McIlrath & Eck LLC increased its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Saudi Central Bank purchased a new position in CVS Health during the 1st quarter valued at about $34,000. Costello Asset Management INC increased its holdings in CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new position in CVS Health during the 1st quarter valued at about $39,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVS. Jefferies Financial Group raised their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Bernstein Bank decreased their price target on shares of 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. Morgan Stanley raised their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Finally, Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $77.89.

CVS Health Price Performance

CVS opened at $73.93 on Thursday. The company's 50 day simple moving average is $66.82 and its 200 day simple moving average is $66.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $74.53. The stock has a market capitalization of $93.76 billion, a PE ratio of 20.65, a P/E/G ratio of 0.79 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same period last year, the company earned $1.83 earnings per share. The company's quarterly revenue 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, sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is currently owned by company 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.

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