Legal & General Group Plc Buys Shares of 9,172,999 CVS Health Corporation $CVS

Key Points

• Legal & General Group Plc purchased 9.17 million CVS Health shares worth approximately $948.9 million, representing about 0.72% of the company. Institutional investors collectively own 80.66% of CVS Health.
• Analysts remain broadly positive, with 22 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $107.17.
• CVS Health exceeded quarterly expectations, reporting $2.58 in adjusted earnings per share and $106.1 billion in revenue, while maintaining a quarterly dividend of $0.665 per share, equivalent to a 2.8% yield.

Legal & General Group Plc purchased a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,172,999 shares of the pharmacy operator's stock, valued at approximately $948,947,000. Legal & General Group Plc owned approximately 0.72% of CVS Health at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in CVS Health by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 356 shares of the pharmacy operator's stock valued at $37,000 after acquiring an additional 105 shares during the last quarter. Apella Capital LLC increased its position in shares of CVS Health by 1.7% during the 2nd quarter. Apella Capital LLC now owns 6,940 shares of the pharmacy operator's stock valued at $724,000 after purchasing an additional 117 shares during the last quarter. CYBER HORNET ETFs LLC raised its holdings in shares of CVS Health by 4.1% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 3,442 shares of the pharmacy operator's stock valued at $259,000 after buying an additional 134 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in CVS Health by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 40,560 shares of the pharmacy operator's stock worth $3,219,000 after buying an additional 136 shares in the last quarter. Finally, CoreCap Advisors LLC grew its position in CVS Health by 4.2% during the second quarter. CoreCap Advisors LLC now owns 3,481 shares of the pharmacy operator's stock valued at $360,000 after acquiring an additional 139 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. UBS Group increased their target price on shares of CVS Health from $122.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on CVS Health from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. DA Davidson lifted their price target on CVS Health from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Cantor Fitzgerald increased their price objective on CVS Health from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of CVS Health from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Twenty-two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus target price of $107.17.

CVS Health Trading Up 1.1%

CVS opened at $94.06 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. The stock has a market cap of $120.31 billion, a PE ratio of 24.88, a PEG ratio of 0.85 and a beta of 0.61. The business has a 50 day moving average of $101.88 and a 200-day moving average of $89.08. CVS Health Corporation has a 52 week low of $69.51 and a 52 week high of $110.68.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm had revenue of $106.10 billion for the quarter, compared to the consensus estimate of $100.03 billion. During the same period in the prior year, the firm earned $1.81 EPS. The company's revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Equities research analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health's payout ratio is 70.37%.

CVS Health Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source