CVS Health Corporation $CVS Shares Purchased by Auto Owners Insurance Co

Auto Owners Insurance Co boosted its stake in CVS Health Corporation (NYSE:CVS) by 45.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,657 shares of the pharmacy operator’s stock after acquiring an additional 1,757 shares during the period. Auto Owners Insurance Co’s holdings in CVS Health were worth $390,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in shares of CVS Health during the first quarter worth $295,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CVS Health by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 149,343 shares of the pharmacy operator’s stock worth $10,027,000 after purchasing an additional 16,698 shares during the period. Avidian Wealth Enterprises LLC acquired a new stake in shares of CVS Health during the first quarter worth $205,000. Verity Asset Management Inc. acquired a new stake in shares of CVS Health during the first quarter worth $207,000. Finally, Amalgamated Bank raised its holdings in shares of CVS Health by 1.3% during the first quarter. Amalgamated Bank now owns 244,654 shares of the pharmacy operator’s stock worth $16,575,000 after purchasing an additional 3,196 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVS shares. Morgan Stanley increased their target price on shares of CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Barclays increased their target price on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. UBS Group increased their target price on shares of CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Friday. Mizuho increased their price objective on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $83.38.

CVS Health Stock Down 0.2%

CVS stock opened at $82.30 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $83.74. The firm’s 50-day simple moving average is $76.05 and its 200 day simple moving average is $68.84. The stock has a market cap of $104.39 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for 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 company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS 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 given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated 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 represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

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.