Perigon Wealth Management LLC bought a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 34,184 shares of the pharmacy operator's stock, valued at approximately $3,536,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of CVS Health by 17.4% during the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator's stock valued at $62,474,000 after buying an additional 134,535 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in CVS Health by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator's stock worth $77,353,000 after buying an additional 13,329 shares during the last quarter. Treasurer of the State of North Carolina raised its position in CVS Health by 1.3% during the second quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator's stock valued at $40,358,000 after acquiring an additional 7,588 shares in the last quarter. HUB Investment Partners LLC raised its position in CVS Health by 25.0% during the second quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator's stock valued at $1,039,000 after acquiring an additional 3,011 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in CVS Health by 8.0% in the second quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator's stock valued at $111,017,000 after acquiring an additional 119,439 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at CVS Health
In other news, Director Larry Robbins sold 370,462 shares of CVS Health stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $93.45, for a total transaction of $34,619,673.90. Following the sale, the director owned 4,824,799 shares of the company's stock, valued at approximately $450,877,466.55. This trade represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.
CVS Health Stock Performance
NYSE CVS opened at $93.99 on Tuesday. The company's fifty day moving average is $102.46 and its two-hundred day moving average is $88.41. CVS Health Corporation has a 52-week low of $69.40 and a 52-week high of $110.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The firm has a market capitalization of $120.21 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 0.93 and a beta of 0.61.
CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Equities research analysts forecast that CVS Health Corporation will post 8.02 EPS for the current year.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. CVS Health's dividend payout ratio (DPR) is currently 70.37%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Cantor Fitzgerald upped their price target on CVS Health from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings raised CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. UBS Group raised their price objective on CVS Health from $122.00 to $126.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $113.00 target price on shares of CVS Health in a research report on Monday, June 1st. Twenty-two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $106.75.
Read Our Latest Research Report on CVS Health
CVS Health Profile
(
Free Report)
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
Further Reading
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