Illinois Municipal Retirement Fund Cuts Position in CVS Health Corporation $CVS

Key Points

• Illinois Municipal Retirement Fund reduced its CVS Health stake by 6.6% in the first quarter, selling 15,541 shares and leaving it with 220,451 shares worth about $15.8 million.
• CVS Health reported strong quarterly results, posting EPS of $2.57 versus estimates of $2.21 and revenue of $100.43 billion versus expectations of $94.99 billion, while also raising its FY 2026 EPS guidance to $7.30-$7.50.
• Wall Street remains upbeat on the stock, with several analysts raising price targets and the consensus rating still at Moderate Buy; however, the article notes some concerns around valuation and regulatory scrutiny tied to CVS Caremark.

Illinois Municipal Retirement Fund lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,451 shares of the pharmacy operator's stock after selling 15,541 shares during the period. Illinois Municipal Retirement Fund's holdings in CVS Health were worth $15,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TOWER TRUST & INVESTMENT Co lifted its position in shares of CVS Health by 0.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 15,708 shares of the pharmacy operator's stock valued at $1,247,000 after acquiring an additional 132 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of CVS Health by 4.1% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 3,442 shares of the pharmacy operator's stock worth $259,000 after acquiring an additional 134 shares during the period. LS Investment Advisors LLC grew its holdings in shares of CVS Health by 3.9% in the 4th quarter. LS Investment Advisors LLC now owns 3,575 shares of the pharmacy operator's stock worth $284,000 after acquiring an additional 135 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in CVS Health by 4.7% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 3,016 shares of the pharmacy operator's stock valued at $239,000 after purchasing an additional 135 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in CVS Health by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 40,560 shares of the pharmacy operator's stock worth $3,219,000 after purchasing an additional 136 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.6%

CVS opened at $106.51 on Friday. The firm has a market cap of $135.90 billion, a P/E ratio of 46.92, a PEG ratio of 1.03 and a beta of 0.61. The business's fifty day simple moving average is $98.64 and its 200 day simple moving average is $84.98. CVS Health Corporation has a 52 week low of $58.50 and a 52 week high of $108.67. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $100.43 billion during the quarter, compared to the consensus estimate of $94.99 billion. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.25 EPS. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. As a group, equities research analysts anticipate that CVS Health Corporation will post 7.46 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $2.66 annualized dividend and a dividend yield of 2.5%. CVS Health's dividend payout ratio is presently 117.18%.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Argus upped their target price on CVS Health from $90.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, May 14th. DA Davidson boosted their price objective on shares of CVS Health from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Truist Financial increased their price objective on shares of CVS Health from $108.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of CVS Health from $103.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Mizuho upped their price target on shares of CVS Health from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $105.38.

CVS Health News Roundup

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: CVS is benefiting from a sector-wide lift after UnitedHealth delivered a large earnings beat and raised guidance, which helped improve sentiment across managed-care stocks including CVS. UNH Stock Flashes Buy Signal On Massive Earnings Beat
• Positive Sentiment: Truist reportedly reiterated a bullish stance with a new $118 price target, reinforcing the view that CVS still has room to run after recently hitting fresh highs. CVS Health Given New $118.00 Price Target at Truist Financial
• Positive Sentiment: CVS also continues to draw favorable analyst attention, with reports highlighting optimistic Wall Street recommendations and broader confidence in the stock’s fundamentals. Is CVS Health (CVS) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Aetna’s provider survey showed improved payer trust and interest in digital tools, which is constructive for CVS Health’s Aetna segment but not likely a near-term stock mover. Aetna provider survey reveals increased payer trust and tangible benefits of digital tools to improve patient outcomes
• Negative Sentiment: Regulatory scrutiny remains a key overhang after reports that CVS Caremark reached a settlement with the FTC over rebate practices, pharmacy access, and transparency, which could pressure margins or invite more oversight. FTC Says CVS Caremark Settlement Could Save Consumers Upto $13 Billion
• Negative Sentiment: Some commentary also suggests CVS may be trading at a demanding valuation after its recent run, which could limit upside if earnings growth does not keep pace. The Real Price of Admission for CVS Health Stock

Insider Buying and Selling

In other CVS Health news, Director Larry Robbins sold 370,462 shares of CVS Health stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $93.45, for a total value of $34,619,673.90. Following the completion of the sale, the director directly owned 4,824,799 shares of the company's stock, valued at approximately $450,877,466.55. The trade was a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $89.58, for a total value of $6,230,378.58. Following the completion of the transaction, the executive vice president owned 10,133 shares of the company's stock, valued at $907,714.14. This trade represents a 87.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,441,551 shares of company stock worth $323,703,977. 0.85% of the stock is owned by company insiders.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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