The Manufacturers Life Insurance Company Makes New $133.19 Million Investment in CVS Health Corporation $CVS

Key Points

• The Manufacturers Life Insurance Company initiated a CVS Health position worth approximately $133.2 million, purchasing 1.29 million shares and owning 0.10% of the company at quarter-end.
• CVS reported stronger-than-expected quarterly results, with EPS of $2.58 versus the $1.87 consensus estimate and revenue of $106.1 billion, up 7.3% year over year. The company reaffirmed fiscal 2026 EPS guidance of $7.90–$8.10.
• Analysts remain broadly positive, with 22 Buy ratings and two Holds, an average “Moderate Buy” rating, and an average price target of $107.17. CVS also maintains a quarterly dividend of $0.665, yielding about 2.8% annually.

The Manufacturers Life Insurance Company bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,287,441 shares of the pharmacy operator's stock, valued at approximately $133,186,000. The Manufacturers Life Insurance Company owned 0.10% of CVS Health at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in CVS Health by 407.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator's stock valued at $26,000 after buying an additional 281 shares during the period. Swiss RE Ltd. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $26,000. Kilter Group LLC acquired a new position in shares of CVS Health during the second quarter worth about $27,000. Sankala Group LLC purchased a new position in CVS Health during the fourth quarter worth about $28,000. Finally, Global Trust Asset Management LLC lifted its position in CVS Health by 344.8% in the first quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 300 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 1.1%

CVS Health stock opened at $94.06 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. The firm has a market capitalization of $120.31 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.85 and a beta of 0.61. CVS Health Corporation has a fifty-two week low of $69.51 and a fifty-two week high of $110.68. The stock's fifty day moving average is $101.88 and its two-hundred day moving average is $89.08.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.71. The business had revenue of $106.10 billion during the quarter, compared to the consensus estimate of $100.03 billion. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The business's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Analysts predict that CVS Health Corporation will post 8.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health's dividend payout ratio is 70.37%.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Weiss Ratings upgraded CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on CVS Health from $111.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Morgan Stanley upped their price objective on CVS Health from $106.00 to $111.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Barclays increased their price objective on CVS Health from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their target price on shares of CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Twenty-two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $107.17.

About CVS Health

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.

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