Lbp Am Sa Raises Stock Position in CVS Health Corporation $CVS

Key Points

• Lbp Am Sa increased its stake in CVS Health by 70.1% in Q2, now holding 238,759 shares valued at $16.47 million.
• CVS Health reported a quarterly EPS of $1.81, beating estimates, with revenue rising 8.4% to nearly $99 billion for the quarter.
• The company declared a quarterly dividend of $0.665, representing a 3.5% yield, with the ex-dividend date set for October 23rd.

Lbp Am Sa raised its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 70.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 238,759 shares of the pharmacy operator's stock after buying an additional 98,429 shares during the period. Lbp Am Sa's holdings in CVS Health were worth $16,470,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. boosted its holdings in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after buying an additional 166 shares during the last quarter. Williams Financial LLC lifted its holdings in CVS Health by 2.5% during the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock valued at $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management lifted its holdings in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. increased its position in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after buying an additional 178 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.3%

Shares of NYSE CVS opened at $75.31 on Wednesday. The business has a 50-day simple moving average of $69.70 and a two-hundred day simple moving average of $67.13. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $77.34. The company has a market cap of $95.52 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.83 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 released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $1.83 EPS. The company's revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is 74.30%.

Insider Buying and Selling

In other 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 transaction of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent analyst reports. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Barclays lifted their target price on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Bernstein Bank reduced their price target 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. Morgan Stanley upped their target price on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.