Illinois Municipal Retirement Fund Purchases 62,717 Shares of CVS Health Corporation $CVS

Key Points

• Illinois Municipal Retirement Fund increased its CVS Health stake by 36.2% in the fourth quarter, buying 62,717 additional shares and bringing its total holdings to 235,992 shares worth about $18.7 million.
• CVS Health has recently seen a mix of positive operational developments, including expanded GLP-1 coverage through CVS Caremark, improving insurance performance, and technology recognition for medication safety and patient care.
• Despite some legal and leadership noise, analysts remain largely constructive: 22 analysts rate CVS a Buy, the consensus rating is Moderate Buy, and the average price target is $100.68.

Illinois Municipal Retirement Fund grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,992 shares of the pharmacy operator's stock after buying an additional 62,717 shares during the quarter. Illinois Municipal Retirement Fund's holdings in CVS Health were worth $18,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CVS. Caitong International Asset Management Co. Ltd lifted its position in shares of CVS Health by 407.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator's stock worth $26,000 after buying an additional 281 shares in the last quarter. Ares Financial Consulting LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $29,000. Dogwood Wealth Management LLC increased its stake in shares of CVS Health by 93.7% during the 4th quarter. Dogwood Wealth Management LLC now owns 370 shares of the pharmacy operator's stock worth $29,000 after purchasing an additional 179 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $35,000. Institutional investors own 80.66% of the company's stock.

CVS Health News Roundup

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

• Positive Sentiment: CVS Caremark expanded coverage options for GLP-1 weight management medications, which could improve access for members and support pharmacy benefit growth while reinforcing CVS’s role in a high-demand therapeutic category. CVS Caremark Delivers Affordability and Access to GLP-1 Weight Management Medications With Expanded Coverage Options
• Positive Sentiment: Investor sentiment also improved after commentary that CVS is in a meaningful turnaround, with recent results showing stronger insurance performance and improving retail pharmacy market share. CVS Offers A Compelling Turnaround Opportunity Not Seen In Years
• Positive Sentiment: CVS was recognized for technology that improves medication safety and patient care, supporting the company’s long-term narrative around innovation and healthcare delivery efficiency. CVS Health Recognized for Technology That Improves Medication Safety and Patient Care
• Neutral Sentiment: CVS named Zach Dennett as interim merchandising leader after Musab Balbale departed the company, a leadership change that may draw attention but is not clearly material on its own. Musab Balbale Departs CVS Health; Zach Dennett Named Interim Merchandising Leader
• Neutral Sentiment: CVS also announced an AI Learning Academy for employees, underscoring ongoing investments in automation and workforce training, though the near-term stock impact is likely limited. CVS launched an AI Learning Academy for its workforce. Here's why
• Negative Sentiment: Reports that major hospitals are suing CVS over an alleged drug discount scheme could raise legal and reputational risks, which may pressure the stock if the case gains traction. Major hospitals sue CVS over alleged drug discount scheme

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HSBC raised their price target on shares of CVS Health from $83.00 to $85.00 and gave the stock a "hold" rating in a research note on Tuesday, May 5th. Morgan Stanley raised their price target on shares of CVS Health from $106.00 to $111.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Wolfe Research decreased their price target on shares of CVS Health from $100.00 to $97.00 and set an "outperform" rating for the company in a research note on Monday, March 2nd. The Goldman Sachs Group raised their price target on shares of CVS Health from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada raised their price target on shares of CVS Health from $93.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.68.

CVS Health Stock Up 1.1%

CVS Health stock opened at $98.10 on Thursday. CVS Health Corporation has a 1-year low of $58.50 and a 1-year high of $98.61. The firm has a market capitalization of $125.16 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 0.95 and a beta of 0.62. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $85.75 and a 200 day simple moving average of $80.47.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.36. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The business had revenue of $100.43 billion during the quarter, compared to analyst estimates of $94.99 billion. During the same period in the previous year, the business earned $2.25 EPS. CVS Health's revenue was up 6.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. On average, analysts predict that CVS Health Corporation will post 7.44 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, April 23rd. CVS Health's payout ratio is currently 117.18%.

Insider Buying and Selling

In related news, Director Larry Robbins sold 1,983,538 shares of CVS Health stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $94.45, for a total value of $187,345,164.10. Following the completion of the transaction, the director directly owned 6,213,261 shares in the company, valued at approximately $586,842,501.45. The trade was a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tilak Mandadi sold 69,551 shares of CVS Health stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $89.58, for a total transaction 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 represents a 87.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,441,551 shares of company stock valued at $323,703,977 over the last quarter. 0.85% of the stock is owned by company insiders.

CVS Health Company Profile

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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