Sciencast Management LP Acquires Shares of 38,045 CVS Health Corporation $CVS

Key Points

• Sciencast Management LP has acquired a new stake in CVS Health Corporation, purchasing 38,045 shares valued at approximately $2.58 million during the first quarter.
• CVS Health reported an EPS of $1.81 for the last quarter, exceeding analysts' estimates, with revenues of $98.92 billion, up 8.4% year-over-year.
• The company declared a quarterly dividend of $0.665 per share, representing an annualized dividend of $2.66 and a dividend yield of 3.6%.

Sciencast Management LP purchased a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,045 shares of the pharmacy operator's stock, valued at approximately $2,578,000.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in shares of CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock worth $231,808,000 after acquiring an additional 572,533 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of CVS Health by 122.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator's stock worth $38,289,000 after acquiring an additional 311,098 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business'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 transaction of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVS shares. Cantor Fitzgerald restated an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Wall Street Zen cut CVS Health from a "buy" rating to a "hold" rating in a report on Saturday. Barclays boosted their price objective on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

CVS Health Price Performance

Shares of CVS stock traded up $0.33 during trading on Friday, hitting $75.00. The company had a trading volume of 6,400,711 shares, compared to its average volume of 6,903,319. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market capitalization of $95.12 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The stock's 50-day moving average price is $67.11 and its 200 day moving average price is $66.30. CVS Health Corporation has a one year low of $43.56 and a one year high of $75.55.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, July 22nd. CVS Health's payout ratio is currently 74.30%.

CVS Health 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.