Landscape Capital Management L.L.C. Cuts Stock Holdings in CVS Health Corporation $CVS

Key Points

• Landscape Capital Management L.L.C. has reduced its holdings in CVS Health Corporation by 41.1%, now owning 69,295 shares valued at approximately $4.70 million.
• Institutional investors and hedge funds own 80.66% of CVS Health stock, with notable increases in holdings by Goldman Sachs and Assenagon Asset Management.
• CVS Health's stock recently received positive ratings from several analysts, with an average rating of "Buy" and a consensus target price of $77.56.

Landscape Capital Management L.L.C. decreased its position in CVS Health Corporation (NYSE:CVS - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,295 shares of the pharmacy operator's stock after selling 48,434 shares during the period. Landscape Capital Management L.L.C.'s holdings in CVS Health were worth $4,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Boothbay Fund Management LLC acquired a new stake in CVS Health during the 4th quarter worth about $300,000. Quarry LP acquired a new stake in shares of CVS Health during the 4th quarter valued at about $97,000. The Manufacturers Life Insurance Company grew its position in shares of CVS Health by 3.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,138,359 shares of the pharmacy operator's stock valued at $51,101,000 after acquiring an additional 42,121 shares during the period. Northern Trust Corp grew its position in shares of CVS Health by 8.0% during the 4th quarter. Northern Trust Corp now owns 12,491,956 shares of the pharmacy operator's stock valued at $560,764,000 after acquiring an additional 928,833 shares during the period. Finally, Voleon Capital Management LP acquired a new stake in shares of CVS Health during the 4th quarter valued at about $388,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVS shares. Bernstein Bank lowered their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $77.56.

CVS Health Trading Up 1.4%

CVS traded up $1.03 during trading hours on Monday, reaching $73.17. The company's stock had a trading volume of 6,391,563 shares, compared to its average volume of 6,107,539. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $73.23. The stock has a market cap of $92.80 billion, a PE ratio of 20.44, a P/E/G ratio of 0.81 and a beta of 0.62. The business's 50-day moving average is $66.00 and its 200-day moving average is $65.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The firm'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. As a group, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is 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.