Strs Ohio Acquires Shares of 823,254 CVS Health Corporation $CVS

Key Points

• Strs Ohio has acquired 823,254 shares of CVS Health Corporation, valued at approximately $55.8 million, representing about 0.07% of the company's total shares.
• CVS Health reported earnings per share of $1.81 for the last quarter, exceeding estimates by $0.35, with revenue increasing 8.4% year-over-year.
• Analysts have varying opinions on CVS Health's stock, with a consensus rating of "Moderate Buy" and a target price of approximately $77.89.

Strs Ohio acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 823,254 shares of the pharmacy operator's stock, valued at approximately $55,775,000. Strs Ohio owned about 0.07% of CVS Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CVS. Bell Investment Advisors Inc boosted its position in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after acquiring an additional 248 shares during the period. McIlrath & Eck LLC raised its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the last quarter. Saudi Central Bank bought a new stake in CVS Health during the 1st quarter valued at $34,000. Costello Asset Management INC raised its holdings in CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after purchasing an additional 422 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new position in CVS Health in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS opened at $73.93 on Thursday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $74.53. The firm's 50-day moving average price is $66.82 and its 200-day moving average price is $66.14. 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 company has a market cap of $93.76 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62.

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 for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the prior year, the company earned $1.83 EPS. CVS Health's quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CVS shares. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Zacks Research cut shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley upped their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Sanford C. Bernstein boosted their target price on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

Insiders Place Their Bets

In other CVS Health 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 value of $532,650.00. Following the transaction, the director owned 22,156 shares in the company, valued at approximately $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 accessible 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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