State of Wisconsin Investment Board Trims Stake in CVS Health Corporation $CVS

Key Points

• State of Wisconsin Investment Board cut its CVS Health stake by 4.2% in the fourth quarter, selling 30,135 shares and leaving it with 680,910 shares valued at about $54 million.
• Institutional ownership remains heavy in CVS, with hedge funds and other institutional investors holding 80.66% of the stock; several large investors notably increased their positions in recent quarters.
• Analysts are still upbeat on CVS, with 22 Buy ratings and 4 Hold ratings, a consensus Moderate Buy view, and an average target price of $100.68. CVS also beat earnings and revenue estimates in its latest quarterly report.

State of Wisconsin Investment Board reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 680,910 shares of the pharmacy operator's stock after selling 30,135 shares during the period. State of Wisconsin Investment Board owned 0.05% of CVS Health worth $54,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Norges Bank purchased a new stake in shares of CVS Health in the 4th quarter valued at about $1,666,265,000. Wellington Management Group LLP lifted its holdings in shares of CVS Health by 391.6% in the 3rd quarter. Wellington Management Group LLP now owns 6,330,717 shares of the pharmacy operator's stock valued at $477,273,000 after purchasing an additional 5,042,816 shares during the last quarter. Amundi lifted its holdings in shares of CVS Health by 95.3% in the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator's stock valued at $572,665,000 after purchasing an additional 3,637,943 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of CVS Health by 24.5% in the 3rd quarter. Capital Research Global Investors now owns 11,469,250 shares of the pharmacy operator's stock valued at $864,667,000 after purchasing an additional 2,253,531 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of CVS Health by 70.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,294,134 shares of the pharmacy operator's stock valued at $399,125,000 after purchasing an additional 2,188,307 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CVS. Truist Financial upped their price objective on CVS Health from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, June 1st. DA Davidson upped their price objective on CVS Health from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Piper Sandler reaffirmed an "overweight" rating and set a $113.00 price objective on shares of CVS Health in a research note on Monday, June 1st. Wolfe Research reduced their price objective on CVS Health from $100.00 to $97.00 and set an "outperform" rating for the company in a research note on Monday, March 2nd. Finally, Sanford C. Bernstein upped their price objective on CVS Health from $94.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.68.

CVS Health Stock Up 0.0%

CVS opened at $100.71 on Wednesday. The company has a market cap of $128.50 billion, a PE ratio of 44.37, a P/E/G ratio of 0.99 and a beta of 0.62. The business has a 50 day moving average price of $88.00 and a two-hundred day moving average price of $81.10. CVS Health Corporation has a 52 week low of $58.50 and a 52 week high of $102.77. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78.

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

Key Stories Impacting CVS Health

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

• Positive Sentiment: Multiple articles highlight CVS as a value opportunity, with commentary that its comeback may be “just getting started” and that the stock still looks cheap relative to its earnings and growth prospects. CVS Health's Comeback Is Just Getting Started -- and Its Valuation Still Looks Shockingly Cheap
• Positive Sentiment: Analyst sentiment remains constructive: Mizuho reportedly raised its price target on CVS due to a more stable policy environment, and Morgan Stanley previously lifted its recommendation to $111 while keeping an Overweight view. Mizuho Raises CVS Health (CVS) Price Target on More Stable Policy Environment
• Positive Sentiment: CVS continues to show operational progress, including Aetna’s AI-driven claims tools that reduced processing time by more than 20%, which could support margins and improve customer experience over time. Is CVS Health (CVS) One of Billionaire Larry Robbins’ 10 Dividend Stock Picks?
• Neutral Sentiment: Aetna also announced $130,000 in donations to Kansas City organizations, reinforcing CVS’s community-health positioning, though this is unlikely to move the stock meaningfully on its own. Aetna Donates $130,000 to Kansas City Organizations To Support Nutrition, Mental Health, Maternal Health and Health-Related Social Needs
• Neutral Sentiment: Other coverage, including Zacks and broader “CVS trending” articles, mainly reflects ongoing investor attention rather than a new fundamental catalyst. Zacks.com featured highlights include StoneCo, USANA Health, Strategic Education, Nexa Resources and CVS
• Negative Sentiment: A report on state officials revising the expense outlook for the Mass General Brigham–CVS deal may add some uncertainty around the transaction’s economics, though the market impact appears limited so far. State officials tweak expense outlook on Mass General Brigham, CVS deal

Insider Buying and Selling

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

CVS Health 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.