OMERS ADMINISTRATION Corp Sells 7,705 Shares of CVS Health Corporation $CVS

Key Points

• OMERS Administration Corp has reduced its holdings in CVS Health Corporation by 14.4%, selling 7,705 shares and now owns 45,753 shares valued at approximately $3.1 million.
• Several institutional investors, including Vanguard and Dodge & Cox, increased their positions in CVS Health during the first quarter, indicating a strong interest in the stock.
• CVS Health reported better-than-expected earnings for the quarter, with an EPS of $1.81 compared to the estimated $1.46, and has established its FY 2025 guidance at 6.300-6.400 EPS.

OMERS ADMINISTRATION Corp lowered its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,753 shares of the pharmacy operator's stock after selling 7,705 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in CVS Health were worth $3,100,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after purchasing an additional 969,027 shares during the period. Dodge & Cox raised 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 valued at $4,976,856,000 after purchasing an additional 3,353,223 shares during the period. Invesco Ltd. raised 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 valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after purchasing an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CVS Health by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after purchasing an additional 728,924 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVS. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Royal Bank Of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $78.00 target price on shares of CVS Health in a report on Tuesday. Finally, UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $77.56.

CVS Health Trading Up 1.4%

NYSE:CVS opened at $73.17 on Friday. 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 firm has a market cap of $92.80 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.58. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $73.23. The firm has a 50-day moving average price of $66.00 and a two-hundred day moving average price of $65.71.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

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.

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