Praxis Investment Management Inc. Grows Position in CVS Health Corporation $CVS

Praxis Investment Management Inc. grew its stake in shares of CVS Health Corporation (NYSE:CVS) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,604 shares of the pharmacy operator’s stock after buying an additional 2,410 shares during the period. Praxis Investment Management Inc.’s holdings in CVS Health were worth $2,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock worth $1,265,000 after purchasing an additional 12,415 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of CVS Health during the first quarter valued at approximately $746,000. Mission Wealth Management LP purchased a new stake in shares of CVS Health during the first quarter valued at approximately $259,000. Janney Montgomery Scott LLC boosted its stake in shares of CVS Health by 21.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,098 shares of the pharmacy operator’s stock valued at $21,348,000 after purchasing an additional 56,156 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of CVS Health by 111.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 47,336 shares of the pharmacy operator’s stock valued at $3,216,000 after purchasing an additional 24,975 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of CVS Health stock opened at $81.40 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $103.24 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.89 and a beta of 0.60. The business has a fifty day simple moving average of $73.65 and a two-hundred day simple moving average of $68.02. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $81.93.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate 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 return on equity of 10.51% and a net margin of 1.17%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.3%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of analyst reports. Barclays increased their price objective on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVS Health in a research note on Tuesday. Jefferies Financial Group raised 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. Finally, Zacks Research lowered CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.05.

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.