Pzena Investment Management LLC Has $1.24 Billion Holdings in CVS Health Corporation $CVS

Key Points

• Pzena Investment Management trimmed its CVS Health stake by 1.7% in the fourth quarter but still held 15.58 million shares worth about $1.24 billion, making CVS its 7th-largest holding.
• CVS reported stronger-than-expected quarterly results, with EPS of $2.57 versus the $2.21 estimate and revenue of $100.43 billion topping forecasts. The company also raised FY 2026 guidance to $7.30–$7.50 EPS.
• Investor sentiment is mixed: several analysts maintain buy or outperform ratings with a consensus Moderate Buy and average price target of $98.68, but there has also been notable insider selling, including large share sales by Executive VP Tilak Mandadi and Director Larry Robbins.

Pzena Investment Management LLC decreased its position in CVS Health Corporation (NYSE:CVS - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,581,307 shares of the pharmacy operator's stock after selling 263,665 shares during the quarter. CVS Health comprises 3.7% of Pzena Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Pzena Investment Management LLC owned 1.23% of CVS Health worth $1,236,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alteri Wealth LLC boosted its stake in CVS Health by 3.2% during the 3rd quarter. Alteri Wealth LLC now owns 4,195 shares of the pharmacy operator's stock valued at $316,000 after purchasing an additional 131 shares during the period. TOWER TRUST & INVESTMENT Co grew its stake in shares of CVS Health by 0.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 15,708 shares of the pharmacy operator's stock worth $1,247,000 after acquiring an additional 132 shares during the last quarter. Holistic Financial Partners grew its stake in shares of CVS Health by 4.1% in the third quarter. Holistic Financial Partners now owns 3,397 shares of the pharmacy operator's stock worth $256,000 after acquiring an additional 133 shares during the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of CVS Health by 4.1% in the third quarter. CYBER HORNET ETFs LLC now owns 3,442 shares of the pharmacy operator's stock worth $259,000 after acquiring an additional 134 shares during the last quarter. Finally, LS Investment Advisors LLC grew its stake in shares of CVS Health by 3.9% in the fourth quarter. LS Investment Advisors LLC now owns 3,575 shares of the pharmacy operator's stock worth $284,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, EVP Tilak Mandadi sold 69,551 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the transaction, the executive vice president owned 10,133 shares in the company, valued at approximately $907,714.14. This trade represents a 87.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry Robbins sold 1,983,538 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the transaction, the director owned 6,213,261 shares in the company, valued at approximately $586,842,501.45. This trade represents a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,441,551 shares of company stock worth $323,703,977. 0.85% of the stock is owned by company insiders.

CVS Health Stock Performance

CVS Health stock opened at $93.35 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.87 and a quick ratio of 0.66. The stock has a fifty day moving average price of $80.03 and a two-hundred day moving average price of $78.98. CVS Health Corporation has a 52-week low of $58.50 and a 52-week high of $98.43. The firm has a market capitalization of $119.11 billion, a P/E ratio of 41.12, a P/E/G ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.36. CVS Health had a return on equity of 11.88% and a net margin of 0.72%.The company had revenue of $100.43 billion during the quarter, compared to analyst estimates of $94.99 billion. During the same period last year, the company posted $2.25 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. As a group, analysts anticipate that CVS Health Corporation will post 7.44 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $2.66 annualized dividend and a yield of 2.8%. CVS Health's dividend payout ratio (DPR) is currently 117.18%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVS. Leerink Partners restated an "outperform" rating and issued a $98.00 price objective on shares of CVS Health in a research note on Thursday, March 5th. UBS Group raised their price objective on shares of CVS Health from $97.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Wolfe Research lowered their price objective on shares of CVS Health from $100.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, March 2nd. TD Cowen raised their price objective on shares of CVS Health from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group raised their price objective on shares of CVS Health from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $98.68.

Key Stories Impacting CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Glenview Capital said CVS shares have delivered strong long-term returns and pointed to continued progress in the company’s cultural and operational turnaround, a supportive signal from a notable shareholder. Glenview Capital Issues Statement on CVS Health
• Positive Sentiment: CVS also highlighted new community and public-health initiatives, including senior affordable housing, military support, and maternal mental-health outreach, which reinforce its healthcare platform and brand strength. CVS Health, Diocese of Camden, and The Walters Group Unite to Bring Senior Affordable Housing to Williamstown, New Jersey
• Neutral Sentiment: CVS published several corporate responsibility updates, including support for the military community and women’s health, which are positive for reputation but likely have limited immediate impact on earnings. CVS Health Reinforces Longstanding Support for the Military Community
• Negative Sentiment: Three major hospital systems accused CVS of diverting hundreds of millions of dollars in savings from the federal 340B Drug Pricing Program, increasing legal and reputational risk for the company. Three major hospital systems accuse CVS of secretly siphoning hundreds of millions in drug savings
• Negative Sentiment: Director Larry Robbins disclosed multiple large stock sales over May 19-21, trimming his position by a sizable amount; insider selling can weigh on sentiment even if it does not change the business fundamentals. SEC Form 4 filing

CVS Health Company Profile

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.

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