Novem Group Has $827,000 Holdings in CVS Health Corporation $CVS

Novem Group lifted its holdings in CVS Health Corporation (NYSE:CVS) by 1.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,994 shares of the pharmacy operator’s stock after acquiring an additional 206 shares during the quarter. Novem Group’s holdings in CVS Health were worth $827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake 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 valued at $8,017,223,000 after acquiring an additional 969,027 shares in the last quarter. Dodge & Cox grew its stake in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Invesco Ltd. grew its stake in CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after buying an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 buying an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CVS Health by 5.6% during 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVS shares. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Barclays increased their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Jefferies Financial Group increased their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Sanford C. Bernstein increased their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Finally, Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

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 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 $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Up 1.6%

CVS stock opened at $75.80 on Friday. The firm has a 50-day moving average price of $69.13 and a 200-day moving average price of $66.98. The stock has a market capitalization of $96.14 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $77.34. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 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.