Varma Mutual Pension Insurance Co Buys Shares of 213,373 CVS Health Corporation $CVS

Varma Mutual Pension Insurance Co purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 213,373 shares of the pharmacy operator's stock, valued at approximately $22,073,000.

Other hedge funds have also recently bought and sold shares of the company. Elevation Wealth Partners LLC boosted its stake in CVS Health by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 356 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 105 shares during the period. Apella Capital LLC increased its stake in shares of CVS Health by 1.7% in the second quarter. Apella Capital LLC now owns 6,940 shares of the pharmacy operator's stock valued at $724,000 after purchasing an additional 117 shares during the period. CYBER HORNET ETFs LLC raised its holdings in shares of CVS Health by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 3,442 shares of the pharmacy operator's stock valued at $259,000 after buying an additional 134 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of CVS Health by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 40,560 shares of the pharmacy operator's stock worth $3,219,000 after buying an additional 136 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in CVS Health by 4.2% in the 2nd quarter. CoreCap Advisors LLC now owns 3,481 shares of the pharmacy operator's stock worth $360,000 after buying an additional 139 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $93.01 on Friday. The stock has a market cap of $118.96 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68. The stock's 50 day moving average price is $102.02 and its 200 day moving average price is $88.86.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health's payout ratio is presently 70.37%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler restated an "overweight" rating and issued a $113.00 target price on shares of CVS Health in a research report on Monday, June 1st. Truist Financial boosted their price target on CVS Health from $108.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. HSBC reissued a "hold" rating and set a $103.00 price target on shares of CVS Health in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on shares of CVS Health from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised shares of CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Twenty-two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.17.

CVS Health Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source