Intech Investment Management LLC Sells 10,397 Shares of CVS Health Corporation $CVS

Key Points

• Intech Investment Management LLC reduced its stake in CVS Health Corporation by 20.4%, owning 40,481 shares valued at $2,743,000 after selling 10,397 shares.
• CVS Health reported an earnings per share (EPS) of $1.81 in its last quarterly results, exceeding analysts' expectations by $0.35, and its revenue increased by 8.4% year-over-year.
• Analysts are optimistic about CVS Health, with 19 buy ratings and an average price target of $77.89, reflecting strong potential for future performance.

Intech Investment Management LLC decreased its position in CVS Health Corporation (NYSE:CVS - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,481 shares of the pharmacy operator's stock after selling 10,397 shares during the period. Intech Investment Management LLC's holdings in CVS Health were worth $2,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Goldman Sachs Group Inc. grew its position in CVS Health by 87.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after purchasing an additional 4,632,530 shares during the last quarter. Dodge & Cox boosted its holdings in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Nuveen LLC bought a new position in shares of CVS Health in the first quarter valued at approximately $204,421,000. Assenagon Asset Management S.A. boosted its holdings in shares of CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock valued at $238,739,000 after acquiring an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.22% of the company's stock.

CVS Health Price Performance

CVS Health stock remained flat at $73.46 during trading hours on Tuesday. 6,581,458 shares of the company's stock traded hands, compared to its average volume of 6,733,585. The company's fifty day moving average is $67.25 and its two-hundred day moving average is $66.38. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $75.55. The firm has a market capitalization of $93.17 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 0.81 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 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 company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the business posted $1.83 EPS. CVS Health'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. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVS. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Zacks Research lowered shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Morgan Stanley increased their target price on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and increased their target price for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Finally, Barclays upped their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned 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 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.