Mirae Asset Global Investments Co. Ltd. Has $13.97 Million Holdings in CVS Health Corporation $CVS

Key Points

• Mirae Asset Global Investments increased its stake in CVS Health by 35.6%, owning 202,463 shares valued at $13.97 million as of the latest SEC filing.
• Various hedge funds, including Goldman Sachs and Assenagon Asset Management, have significantly increased their holdings in CVS Health, indicating strong institutional interest with over 80% of the stock owned by institutional investors.
• CVS Health recently declared a quarterly dividend of $0.665 per share, with a dividend yield of 3.4%, and reported earnings exceeding analyst estimates in the latest earnings release.

Mirae Asset Global Investments Co. Ltd. lifted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 35.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,463 shares of the pharmacy operator's stock after buying an additional 53,120 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CVS Health were worth $13,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after acquiring an additional 4,632,530 shares during the last quarter. Dodge & Cox grew its holdings 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 worth $4,976,856,000 after purchasing an additional 3,353,223 shares during the last quarter. Nuveen LLC bought a new stake in shares of CVS Health during the first quarter worth $204,421,000. Assenagon Asset Management S.A. grew its holdings in shares of CVS Health by 310.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the last quarter. Finally, Invesco Ltd. grew its holdings 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 worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVS shares. Weiss Ratings restated a "hold (c-)" rating on shares of CVS Health in a report on Saturday, September 27th. Barclays increased their target price on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Wolfe Research increased their price objective on CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.25.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction 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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Up 0.1%

NYSE:CVS opened at $77.51 on Friday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. 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 firm has a market capitalization of $98.31 billion, a P/E ratio of 21.65, a P/E/G ratio of 0.85 and a beta of 0.60. The stock's fifty day simple moving average is $70.71 and its 200-day simple moving average is $67.33.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 EPS. The firm's 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. Equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

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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