Voya Investment Management LLC Has $166.91 Million Stake in CVS Health Corporation $CVS

Key Points

• Voya Investment Management LLC reduced its stake in CVS Health by 14.2%, selling 408,959 shares, leaving it with 2,463,583 shares valued at approximately $166.9 million.
• Other institutional investors, like Jennison Associates LLC and Cerity Partners LLC, increased their positions significantly, indicating ongoing confidence in the company.
• CVS Health recently reported earnings exceeding expectations, with a quarterly EPS of $1.81, and confirmed a full-year EPS guidance of 6.300-6.400.

Voya Investment Management LLC lowered its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,463,583 shares of the pharmacy operator's stock after selling 408,959 shares during the quarter. Voya Investment Management LLC owned about 0.19% of CVS Health worth $166,908,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after acquiring an additional 969,027 shares in the last quarter. Dodge & Cox increased its holdings in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Invesco Ltd. raised its position in 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 purchasing an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock worth $1,037,205,000 after purchasing an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock worth $924,643,000 after buying an additional 728,924 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS stock traded up $0.33 during trading on Friday, hitting $75.00. 6,400,711 shares of the company's stock traded hands, compared to its average volume of 6,810,735. The stock has a fifty day moving average price of $67.11 and a two-hundred day moving average price of $66.33. 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 52 week low of $43.56 and a 52 week high of $75.55. The stock has a market capitalization of $95.12 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 0.83 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 analyst estimates of $94.87 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. CVS Health's quarterly 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, equities analysts anticipate 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 was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 74.30%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVS. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Barclays raised their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and raised their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Morgan Stanley lifted their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.89.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the business'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 sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.