Wellington Management Group LLP Buys 183,232 Shares of CVS Health Corporation $CVS

Key Points

• Wellington Management Group LLP increased its stake in CVS Health Corporation by 83.2%, acquiring an additional 183,232 shares during the first quarter, bringing its total holdings to 403,365 shares valued at approximately $27.3 million.
• Several institutional investors also boosted their positions in CVS, with notable increases from Edgar Lomax Co. (up 38.3%) and Korea Investment CORP (up 50.8%), indicating strong institutional confidence in the stock.
• Analysts have raised their ratings on CVS Health, with the average target price now at $76.67, and a consensus rating of "Buy" among analysts reflecting optimism about the company's future performance.

Wellington Management Group LLP boosted its position in CVS Health Corporation (NYSE:CVS - Free Report) by 83.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 403,365 shares of the pharmacy operator's stock after acquiring an additional 183,232 shares during the period. Wellington Management Group LLP's holdings in CVS Health were worth $27,328,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of CVS Health by 87.5% during the 1st 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. Nuveen LLC bought a new stake in shares of CVS Health during the 1st quarter valued at about $204,421,000. Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health during the 4th quarter valued at about $121,742,000. Assenagon Asset Management S.A. boosted its stake in shares of CVS Health by 310.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock valued at $238,739,000 after purchasing an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of CVS Health by 13.2% during the 1st 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 in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Royal Bank Of Canada lifted their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays lifted their price target on shares of CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Bernstein Bank lowered their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CVS Health currently has a consensus rating of "Buy" and an average price target of $77.56.

CVS Health Stock Up 0.5%

CVS Health stock traded up $0.39 during trading hours on Wednesday, hitting $71.94. The stock had a trading volume of 3,586,239 shares, compared to its average volume of 8,055,836. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $91.24 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The stock's 50-day moving average price is $65.76 and its 200-day moving average price is $65.46.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared 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 was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's payout ratio is currently 74.30%.

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.