Trexquant Investment LP Acquires 97,097 Shares of CVS Health Corporation $CVS

Key Points

• Trexquant Investment LP has increased its stake in CVS Health Corporation by 41.4%, now owning a total of 331,722 shares worth approximately $22.47 million.
• CVS Health reported earnings of $1.81 per share for the latest quarter, exceeding analyst estimates and showing an 8.4% year-over-year revenue growth to $98.92 billion.
• CVS has announced a quarterly dividend of $0.665 per share, representing a 3.7% annualized yield, with a payout ratio of 74.30%.

Trexquant Investment LP raised its position in CVS Health Corporation (NYSE:CVS - Free Report) by 41.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 331,722 shares of the pharmacy operator's stock after acquiring an additional 97,097 shares during the period. Trexquant Investment LP's holdings in CVS Health were worth $22,474,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its position in shares of CVS Health by 32.6% during the fourth 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. Costello Asset Management INC boosted its position in shares of CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of CVS Health during the first quarter valued at approximately $39,000. Park Square Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $43,000. Finally, GW&K Investment Management LLC boosted its position in shares of CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVS. Barclays lifted their target price on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada lifted their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, CVS Health presently has an average rating of "Buy" and a consensus target price of $77.56.

CVS Health Stock Performance

Shares of CVS traded up $1.03 during mid-day trading on Monday, hitting $73.17. The stock had a trading volume of 6,391,563 shares, compared to its average volume of 6,107,539. The firm has a market cap of $92.80 billion, a P/E ratio of 20.44, a PEG ratio of 0.81 and a beta of 0.62. The business has a fifty day moving average price of $66.00 and a 200-day moving average price of $65.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $73.23.

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

CVS Health Announces Dividend

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

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the business'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 sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.22% of the company's stock.

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.