Waycross Partners LLC Takes Position in CVS Health Corporation $CVS

Key Points

• Waycross Partners LLC has acquired a new position in CVS Health Corporation, purchasing 45,000 shares valued at approximately $3.1 million during the second quarter.
• Analysts have set a new consensus rating of "Moderate Buy" for CVS Health, with an average target price of $78.25, following several upgraded ratings from various firms.
• CVS Health has declared a quarterly dividend of $0.665 per share, with a dividend yield of 3.5%, set to be paid on November 3rd.

Waycross Partners LLC purchased a new position in CVS Health Corporation (NYSE:CVS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 45,000 shares of the pharmacy operator's stock, valued at approximately $3,104,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. grew its position in CVS Health by 83.6% in the second quarter. Armstrong Advisory Group Inc. now owns 2,196 shares of the pharmacy operator's stock worth $151,000 after acquiring an additional 1,000 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of CVS Health by 3.1% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 13,155 shares of the pharmacy operator's stock valued at $907,000 after acquiring an additional 400 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of CVS Health by 1.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 266,774 shares of the pharmacy operator's stock valued at $18,402,000 after acquiring an additional 4,430 shares in the last quarter. Toth Financial Advisory Corp raised its stake in CVS Health by 65.4% in the second quarter. Toth Financial Advisory Corp now owns 61,455 shares of the pharmacy operator's stock worth $4,239,000 after buying an additional 24,306 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in CVS Health by 72.4% in the second quarter. Park Avenue Securities LLC now owns 44,641 shares of the pharmacy operator's stock worth $3,079,000 after buying an additional 18,751 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Bernstein Bank reduced their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. 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 lifted their price target for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Wolfe Research lifted their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Sanford C. Bernstein boosted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.25.

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 dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.22% of the company's stock.

CVS Health Price Performance

NYSE:CVS opened at $76.44 on Wednesday. CVS Health Corporation has a one year low of $43.56 and a one year high of $76.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 0.83 and a beta of 0.62. The firm's fifty day moving average is $68.38 and its two-hundred day moving average is $66.77.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating 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 company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm'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. Research analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

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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