Kanawha Capital Management LLC Takes $216,000 Position in CVS Health Corporation $CVS

Key Points

• Kanawha Capital Management LLC has acquired a new stake in CVS Health Corporation, purchasing 3,128 shares valued at approximately $216,000 in the 2nd quarter.
• CVS Health reported $1.81 EPS in its latest quarter, exceeding expectations, with revenue at $98.92 billion, indicating an 8.4% increase year-over-year.
• A quarterly dividend of $0.665 per share will be paid to shareholders on November 3rd, representing a yield of 3.2% and a payout ratio of 74.30%.

Kanawha Capital Management LLC purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,128 shares of the pharmacy operator's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after acquiring an additional 969,027 shares during the period. Dodge & Cox raised its stake in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Invesco Ltd. raised its stake in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after purchasing an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CVS Health by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after purchasing an additional 728,924 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $82.64 on Friday. The company's 50-day moving average price is $74.00 and its two-hundred day moving average price is $68.12. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market cap of $104.81 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $82.88.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health's payout ratio is presently 74.30%.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. The Goldman Sachs Group assumed coverage on shares of CVS Health in a research note on Tuesday. They set a "buy" rating and a $91.00 price objective on the stock. Mizuho boosted their price target on shares of CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. Finally, Leerink Partners boosted their price target on shares of CVS Health from $86.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $82.57.

About CVS Health

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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