Redwood Investment Management LLC Increases Stock Holdings in CVS Health Corporation $CVS

Key Points

• Redwood Investment Management LLC increased its stake in CVS Health by 14.4% during the 1st quarter, owning 28,731 shares worth approximately $1,947,000.
• Several hedge funds have also raised their holdings in CVS Health, with Costello Asset Management INC increasing its stake by 281.3% and others making significant purchases.
• CVS Health's stock currently holds an average rating of "Buy" from analysts, with a consensus target price of $76.67 following positive earnings results that exceeded consensus estimates.

Redwood Investment Management LLC lifted its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,731 shares of the pharmacy operator's stock after buying an additional 3,623 shares during the period. Redwood Investment Management LLC's holdings in CVS Health were worth $1,947,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CVS. Costello Asset Management INC raised its stake in shares of CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC purchased a new position in CVS Health during the first quarter worth about $39,000. GW&K Investment Management LLC boosted its holdings in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares in the last quarter. Hemington Wealth Management boosted 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 purchasing an additional 172 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and lifted their target price for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Finally, Bernstein Bank decreased their price target on 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 given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.67.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $71.22 on Tuesday. The company has a market capitalization of $90.33 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $65.57 and a 200 day moving average of $65.37.

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 analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's dividend payout ratio is presently 74.30%.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

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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