Junto Capital Management LP Purchases Shares of 480,677 CVS Health Corporation $CVS

Key Points

• Junto Capital Management LP has purchased 480,677 shares of CVS Health Corporation, valued at approximately $32.57 million, marking a significant new investment in the company.
• CVS Health is currently rated as a "Buy" or "Overweight" by multiple analysts, with a consensus price target of $77.56, indicating potential upside from current prices.
• The company recently announced a quarterly dividend of $0.665 per share, offering an annualized yield of 3.6%, demonstrating its commitment to returning value to shareholders.

Junto Capital Management LP purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 480,677 shares of the pharmacy operator's stock, valued at approximately $32,566,000.

A number of other institutional investors have also made changes to their positions in CVS. Costello Asset Management INC boosted its stake in shares of CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC purchased a new position in CVS Health in the first quarter worth approximately $39,000. GW&K Investment Management LLC lifted its stake in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the last quarter. Hemington Wealth Management lifted its stake in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 172 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Truist Financial lifted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Bernstein Bank dropped their price objective 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. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of "Buy" and a consensus target price of $77.56.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the 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 completion of the sale, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 1.4%

Shares of CVS stock opened at $73.17 on Friday. The firm has a market cap of $92.80 billion, a P/E ratio of 20.44, a PEG ratio of 0.80 and a beta of 0.58. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $73.23. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm's 50-day simple moving average is $66.00 and its 200-day simple moving average is $65.71.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend payout ratio is 74.30%.

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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