CVS Health Corporation $CVS Shares Purchased by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its holdings in CVS Health by 43.1%, acquiring an additional 15,619 shares, bringing their total ownership to 51,846 shares valued at approximately $3.48 million.
• CVS Health reported quarterly earnings of $1.81 per share, exceeding analyst estimates by $0.35, and its revenue reached $98.92 billion, up 8.4% year-over-year.
• The company declared a quarterly dividend of $0.665 per share, which gives an annualized yield of 3.9%, with a payout ratio of 74.30%.

Horizon Investments LLC raised its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,846 shares of the pharmacy operator's stock after purchasing an additional 15,619 shares during the quarter. Horizon Investments LLC's holdings in CVS Health were worth $3,477,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVS. MSH Capital Advisors LLC acquired a new position in shares of CVS Health in the fourth quarter worth about $218,000. Strategic Investment Solutions Inc. IL raised its position in shares of CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of CVS Health by 3.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,115,154 shares of the pharmacy operator's stock worth $94,890,000 after acquiring an additional 69,641 shares during the period. Capital International Sarl raised its position in shares of CVS Health by 75.6% in the fourth quarter. Capital International Sarl now owns 47,151 shares of the pharmacy operator's stock worth $2,117,000 after acquiring an additional 20,306 shares during the period. Finally, Capital International Investors raised its position in shares of CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bernstein Bank reduced their price target on shares of 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. Barclays upped their price target on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Truist Financial upped their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and upped their price target for the stock from $67.00 to $79.00 in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $76.67.

CVS Health Price Performance

CVS traded up $0.7720 during trading on Tuesday, reaching $70.9420. The company's stock had a trading volume of 5,231,204 shares, compared to its average volume of 9,903,769. 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 firm has a fifty day simple moving average of $65.09 and a two-hundred day simple moving average of $64.82. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a market cap of $89.98 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.76 and a beta of 0.58.

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 for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insider Activity

In other news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

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.