Kayne Anderson Rudnick Investment Management LLC Buys 12,661 Shares of CVS Health Corporation $CVS

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in CVS Health Corporation by 41.1%, acquiring an additional 12,661 shares, bringing its total holdings to 43,438 shares valued at $2,943,000.
• CVS Health reported a quarterly EPS of $1.81, surpassing analysts' expectations of $1.46, with revenues of $98.92 billion, up 8.4% from the previous year.
• CVS Health has recently declared a quarterly dividend of $0.665 per share, yielding around 3.7%, with a dividend payout ratio of 74.30%.

Kayne Anderson Rudnick Investment Management LLC grew its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 41.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,438 shares of the pharmacy operator's stock after purchasing an additional 12,661 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in CVS Health were worth $2,943,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Boothbay Fund Management LLC purchased a new stake in shares of CVS Health in the 4th quarter worth about $300,000. Mission Creek Capital Partners Inc. grew its position in shares of CVS Health by 30.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 9,995 shares of the pharmacy operator's stock worth $449,000 after buying an additional 2,324 shares during the period. Quarry LP purchased a new stake in shares of CVS Health in the 4th quarter worth about $97,000. Optiver Holding B.V. purchased a new stake in shares of CVS Health in the 4th quarter worth about $117,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of CVS Health by 3.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,138,359 shares of the pharmacy operator's stock worth $51,101,000 after buying an additional 42,121 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE CVS opened at $71.22 on Tuesday. The firm's 50-day moving average price is $65.57 and its 200-day moving average price is $65.37. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company has a market cap of $90.33 billion, a PE ratio of 19.89, a PEG ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVS shares. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and increased their price objective for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, CVS Health presently has an average rating of "Buy" and a consensus price target of $76.67.

Insider Activity

In related news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Company 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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