Optas LLC Takes Position in CVS Health Corporation $CVS

Key Points

• Optas LLC has acquired a new stake in CVS Health Corporation, purchasing 6,284 shares valued at approximately $433,000 during the 2nd quarter, as reported in its 13F filing with the SEC.
• CVS Health's recent earnings report indicated a positive performance with earnings per share of $1.81, surpassing analyst estimates, and an 8.4% year-over-year revenue growth, totaling $98.92 billion.
• The company announced a quarterly dividend of $0.665 per share, resulting in an annualized dividend of $2.66 and a yield of 3.5%, set to be paid on November 3rd.

Optas LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,284 shares of the pharmacy operator's stock, valued at approximately $433,000.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC increased its holdings in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the period. Cantor Fitzgerald Investment Advisors L.P. increased its holdings in CVS Health by 1.6% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock worth $28,264,000 after buying an additional 6,615 shares during the period. Cerity Partners LLC increased its holdings in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the period. Bank of New York Mellon Corp increased its holdings in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the period. Finally, Brandywine Global Investment Management LLC increased its holdings in CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock worth $231,808,000 after buying an additional 572,533 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 0.2%

Shares of NYSE:CVS opened at $76.78 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $79.20. The firm has a market capitalization of $97.38 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The business's 50 day moving average price is $71.98 and its 200-day moving average price is $67.59.

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

CVS Health Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Sanford C. Bernstein increased their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $79.80.

Insiders Place Their Bets

In other CVS Health 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 owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.

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