Deroy & Devereaux Private Investment Counsel Inc. Decreases Position in CVS Health Corporation $CVS

Deroy & Devereaux Private Investment Counsel Inc. cut its stake in CVS Health Corporation (NYSE:CVS) by 0.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 391,086 shares of the pharmacy operator’s stock after selling 1,168 shares during the quarter. CVS Health comprises approximately 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 25th biggest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in CVS Health were worth $26,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after buying an additional 969,027 shares in the last quarter. Dodge & Cox lifted its stake in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Invesco Ltd. lifted its stake in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CVS Health by 14.5% in the 1st 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. lifted its stake in CVS Health by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after purchasing an additional 728,924 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho raised their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Sanford C. Bernstein raised their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of CVS Health in a research note on Tuesday. Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Finally, UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.05.

CVS Health Stock Up 1.6%

CVS Health stock opened at $79.67 on Wednesday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.94. 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 50 day moving average price of $72.95 and a 200 day moving average price of $67.83. The company has a market capitalization of $101.05 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share 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 firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the firm earned $1.83 EPS. The firm’s revenue for the quarter 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 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction 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. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company’s stock.

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.