CVS Health Corporation $CVS Shares Bought by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in CVS Health Corporation by 73.1%, acquiring an additional 41,871 shares during the 1st quarter, bringing its total to 99,176 shares valued at $6.7 million.
• Insider trading activity showed Director Anne A. Finucane sold 7,500 shares of CVS Health at an average price of $71.02, representing a 25.29% decrease in her ownership.
• Analysts have issued positive ratings on CVS Health, with UBS upgrading the stock from "neutral" to "buy" and raising the target price from $67 to $79, contributing to a consensus rating of "Buy" with an average price target of $77.89.

NewEdge Advisors LLC lifted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 73.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,176 shares of the pharmacy operator's stock after purchasing an additional 41,871 shares during the quarter. NewEdge Advisors LLC's holdings in CVS Health were worth $6,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Goldman Sachs Group Inc. raised its stake in shares of CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock valued at $672,598,000 after acquiring an additional 4,632,530 shares during the period. Dodge & Cox raised its holdings in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Nuveen LLC bought a new stake in shares of CVS Health in the first quarter valued at about $204,421,000. Assenagon Asset Management S.A. raised its holdings in shares of CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock valued at $238,739,000 after acquiring an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in CVS Health by 13.2% in 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 in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVS shares. Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and upped their target price for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Sanford C. Bernstein upped their price objective on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

CVS Health Trading Up 0.4%

Shares of NYSE CVS traded up $0.30 during trading on Friday, hitting $74.97. 4,254,978 shares of the company were exchanged, compared to its average volume of 9,622,312. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a fifty day moving average price of $66.96 and a 200-day moving average price of $66.22. The firm has a market capitalization of $95.09 billion, a PE ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 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 quarter in the previous year, the firm earned $1.83 EPS. The company's quarterly 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. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, July 22nd. CVS Health's payout ratio is 74.30%.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company's stock.

CVS Health 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.