UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its position in CVS Health Corporation (NYSE:CVS - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,322,822 shares of the pharmacy operator's stock after selling 100,786 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.66% of CVS Health worth $563,871,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP grew its holdings in shares of CVS Health by 95.1% during the 1st quarter. Woodline Partners LP now owns 106,518 shares of the pharmacy operator's stock valued at $7,217,000 after purchasing an additional 51,925 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of CVS Health by 560.4% during the 1st quarter. Empowered Funds LLC now owns 211,484 shares of the pharmacy operator's stock valued at $14,328,000 after purchasing an additional 179,461 shares during the last quarter. Logan Capital Management Inc. grew its holdings in shares of CVS Health by 12.9% during the 1st quarter. Logan Capital Management Inc. now owns 19,790 shares of the pharmacy operator's stock valued at $1,341,000 after purchasing an additional 2,267 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of CVS Health during the 1st quarter valued at approximately $316,000. Finally, Ascent Group LLC bought a new stake in CVS Health during the 1st quarter worth approximately $497,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on CVS shares. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Sanford C. Bernstein boosted their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Finally, Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $77.89.
Get Our Latest Stock Report on CVS
CVS Health Stock Up 2.1%
CVS Health stock opened at $71.71 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $74.53. The firm's fifty day moving average is $66.67 and its 200 day moving average is $66.09. The company has a market capitalization of $90.95 billion, a PE ratio of 20.03, a PEG ratio of 0.77 and a beta of 0.62.
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 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 firm 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 posted $1.83 earnings per share. The business's 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, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.
CVS Health Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. CVS Health's dividend payout ratio is presently 74.30%.
Insiders Place Their Bets
In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.22% of the company's stock.
About CVS Health
(
Free Report)
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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