Paralel Advisors LLC Invests $2.72 Million in CVS Health Corporation $CVS

Key Points

• Paralel Advisors LLC has acquired a new stake in CVS Health Corporation, investing approximately $2.72 million for 39,433 shares during the second quarter.
• Analysts have raised their target prices for CVS Health, with Mizuho increasing their target from $76.00 to $88.00, reflecting positive sentiment about the stock's performance.
• The company recently declared a quarterly dividend of $0.665 per share, with a scheduled payment date of November 3rd, providing a yearly dividend yield of 3.2%.

Paralel Advisors LLC bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,433 shares of the pharmacy operator's stock, valued at approximately $2,720,000.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Hazlett Burt & Watson Inc. increased its position in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator's stock valued at $117,000 after purchasing an additional 165 shares during the last quarter. Essex Financial Services Inc. boosted its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares in the last quarter. Williams Financial LLC grew its position in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock valued at $478,000 after acquiring an additional 167 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 172 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wolfe Research lifted their target price on shares of CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Mizuho lifted their price objective on CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their target price for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Finally, Sanford C. Bernstein raised their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.57.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 completion of the sale, the director owned 22,156 shares of the company's stock, valued at approximately $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 accessible through this link. 1.22% of the stock is owned by company insiders.

CVS Health Trading Down 1.2%

CVS opened at $82.08 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $83.52. The firm has a market capitalization of $104.11 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 0.92 and a beta of 0.60. The business has a 50 day simple moving average of $75.02 and a two-hundred day simple moving average of $68.45.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business 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%. CVS Health's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health's dividend payout ratio is presently 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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