SteelPeak Wealth LLC Buys New Position in CVS Health Corporation $CVS

Key Points

• SteelPeak Wealth LLC has acquired a new position in CVS Health, purchasing 124,263 shares valued at approximately $8.57 million.
• CVS Health reported a quarterly earnings per share (EPS) of $1.81, surpassing analyst expectations of $1.46, with revenues reaching $98.92 billion.
• Barclays and other analysts have raised their target prices for CVS Health, reflecting positive sentiment, with Barclays upgrading their target from $80 to $87 and maintaining an "overweight" rating.

SteelPeak Wealth LLC bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 124,263 shares of the pharmacy operator's stock, valued at approximately $8,572,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Essex Financial Services Inc. boosted its holdings in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares in the last quarter. Williams Financial LLC boosted its holdings in shares of CVS Health by 2.5% during the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock worth $478,000 after buying an additional 167 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after buying an additional 178 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Wolfe Research upped their target price on CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Sanford C. Bernstein upped their target price on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Trading Down 0.8%

NYSE CVS opened at $76.86 on Tuesday. The firm has a market capitalization of $97.48 billion, a P/E ratio of 21.47, a PEG ratio of 0.85 and a beta of 0.60. The business has a fifty day simple moving average of $71.05 and a 200 day simple moving average of $67.39. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $79.20. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

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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