USA Financial Formulas Takes Position in CVS Health Corporation $CVS

Key Points

• USA Financial Formulas acquired a new stake in CVS Health, purchasing 20,718 shares valued at approximately $1.43 million during the second quarter.
• CVS Health recently reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' estimates, along with a revenue increase of 8.4% year-over-year to $98.92 billion.
• The company announced a quarterly dividend of $0.665, equating to an annualized yield of 3.5%, to be paid on November 3rd to shareholders of record on October 23rd.

USA Financial Formulas purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,718 shares of the pharmacy operator's stock, valued at approximately $1,429,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in shares of CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock valued at $672,598,000 after purchasing an additional 4,632,530 shares in the last quarter. Dodge & Cox grew its holdings in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Nuveen LLC bought a new stake in shares of CVS Health during the first quarter valued at about $204,421,000. Assenagon Asset Management S.A. lifted its holdings in shares of CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after buying an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 1.9%

Shares of NYSE CVS opened at $76.84 on Thursday. The stock has a market capitalization of $97.46 billion, a P/E ratio of 21.46, a PEG ratio of 0.83 and a beta of 0.60. CVS Health Corporation has a one year low of $43.56 and a one year high of $77.54. The firm's 50 day simple moving average is $70.00 and its two-hundred day simple moving average is $67.19. 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVS. Sanford C. Bernstein increased their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research note on Friday, September 5th. Barclays increased their price objective on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Jefferies Financial Group boosted their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Finally, Wolfe Research boosted their price objective on CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.25.

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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