USS Investment Management Ltd Sells 174,600 Shares of CVS Health Corporation $CVS

Key Points

• USS Investment Management Ltd reduced its stake in CVS Health Corporation by 43.9%, now holding 223,358 shares valued at approximately $15.1 million after selling 174,600 shares.
• CVS Health reported strong quarterly earnings, with earnings per share (EPS) of $1.81, surpassing estimates, and revenue of $98.92 billion, which is up 8.4% year-over-year.
• Multiple analysts have recently upgraded their ratings on CVS Health, with new price targets ranging from $77.00 to $82.00, indicating positive market sentiment.

USS Investment Management Ltd cut its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 43.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,358 shares of the pharmacy operator's stock after selling 174,600 shares during the quarter. USS Investment Management Ltd's holdings in CVS Health were worth $15,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Saudi Central Bank bought a new stake in CVS Health during the 1st quarter valued at about $34,000. Costello Asset Management INC increased 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 acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of CVS Health during the first quarter valued at approximately $39,000. GW&K Investment Management LLC increased its holdings in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 0.1%

Shares of CVS stock opened at $73.76 on Friday. The firm has a fifty day moving average price of $66.60 and a 200-day moving average price of $65.99. The company has a market cap of $93.56 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 0.81 and a beta of 0.62. 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 1 year low of $43.56 and a 1 year high of $74.53.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed 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 of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. CVS Health's dividend payout ratio is 74.30%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company'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 value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Morgan Stanley lifted their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Sanford C. Bernstein lifted their price target 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. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $77.89.

About CVS Health

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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