Pure Financial Advisors LLC Purchases 3,516 Shares of CVS Health Corporation $CVS

Key Points

• Pure Financial Advisors LLC increased its stake in CVS Health by 116.7% during the second quarter, acquiring an additional 3,516 shares, bringing its total holdings to 6,529 shares valued at approximately $450,000.
• Various institutional investors also showed significant activity, with notable increases in positions, including Robeco Institutional Asset Management B.V. expanding its holdings by 815.2% during the same period.
• CVS Health's quarterly earnings exceeded expectations, reporting $1.81 earnings per share and revenues of $98.92 billion, accompanied by a recent announcement of a $0.665 quarterly dividend.

Pure Financial Advisors LLC lifted its position in CVS Health Corporation (NYSE:CVS - Free Report) by 116.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,529 shares of the pharmacy operator's stock after acquiring an additional 3,516 shares during the quarter. Pure Financial Advisors LLC's holdings in CVS Health were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVS. Robeco Institutional Asset Management B.V. grew its position in CVS Health by 815.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator's stock valued at $183,701,000 after buying an additional 2,372,121 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock valued at $28,264,000 after buying an additional 6,615 shares during the period. USA Financial Formulas bought a new position in CVS Health during the second quarter valued at about $1,429,000. First Pacific Financial grew its position in CVS Health by 1,310.7% during the second quarter. First Pacific Financial now owns 2,116 shares of the pharmacy operator's stock valued at $146,000 after buying an additional 1,966 shares during the period. Finally, Forza Wealth Management LLC grew its position in CVS Health by 5.5% during the second quarter. Forza Wealth Management LLC now owns 8,989 shares of the pharmacy operator's stock valued at $620,000 after buying an additional 465 shares during the period. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and upped their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Wolfe Research upped their price objective on shares of CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Bernstein Bank dropped their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Trading Up 0.1%

Shares of CVS Health stock opened at $77.51 on Friday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. The company has a market cap of $98.31 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.85 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company's 50-day moving average price is $70.71 and its 200-day moving average price is $67.34.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. 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 will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

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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