Simplicity Wealth LLC Invests $579,000 in CVS Health Corporation $CVS

Simplicity Wealth LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,396 shares of the pharmacy operator's stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc grew its position in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC grew its position in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. ORG Partners LLC grew its position in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. Saudi Central Bank purchased a new stake in CVS Health during the 1st quarter valued at about $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in CVS Health during the 2nd quarter valued at about $35,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.4%

CVS stock opened at $77.17 on Wednesday. The firm has a fifty day moving average price of $71.39 and a 200 day moving average price of $67.46. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.20. 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 cap of $97.88 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is presently 74.30%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVS shares. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and set a $78.00 target price on shares of CVS Health in a research note on Tuesday, August 26th. UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and upped their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group upped their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average target price of $79.20.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction 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 of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by insiders.

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.

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