Baker Tilly Wealth Management LLC Acquires 471 Shares of CVS Health Corporation $CVS

Baker Tilly Wealth Management LLC raised its holdings in CVS Health Corporation (NYSE:CVS) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,568 shares of the pharmacy operator’s stock after purchasing an additional 471 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in CVS Health were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in CVS Health by 26.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 18,371 shares of the pharmacy operator’s stock valued at $1,267,000 after purchasing an additional 3,829 shares during the period. Polianta Ltd bought a new position in CVS Health in the 2nd quarter valued at $1,414,000. Wedmont Private Capital grew its stake in CVS Health by 9.7% in the 2nd quarter. Wedmont Private Capital now owns 12,191 shares of the pharmacy operator’s stock valued at $813,000 after purchasing an additional 1,081 shares during the period. Swedbank AB grew its stake in CVS Health by 57.9% in the 2nd quarter. Swedbank AB now owns 2,242,914 shares of the pharmacy operator’s stock valued at $154,716,000 after purchasing an additional 822,648 shares during the period. Finally, Secure Asset Management LLC bought a new position in shares of CVS Health during the 2nd quarter worth $204,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Finally, Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.89.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Price Performance

CVS opened at $74.00 on Thursday. The stock’s 50 day simple moving average is $67.53 and its 200 day simple moving average is $66.48. 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 $75.55. The firm has a market cap of $93.86 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 0.81 and a beta of 0.62.

CVS Health (NYSE:CVS) last posted its quarterly 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 EPS. CVS Health’s revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

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.