Mendel Money Management Has $784,000 Holdings in CVS Health Corporation $CVS

Mendel Money Management boosted its holdings in CVS Health Corporation (NYSE:CVS) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,367 shares of the pharmacy operator’s stock after acquiring an additional 250 shares during the quarter. Mendel Money Management’s holdings in CVS Health were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CVS Health by 0.8% during 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 purchasing an additional 969,027 shares in the last quarter. Dodge & Cox boosted its stake in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Invesco Ltd. boosted its stake in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $1,037,205,000 after purchasing an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $924,643,000 after purchasing an additional 728,924 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVS. Leerink Partners lifted their price target on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Wolfe Research lifted their price objective on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Truist Financial set a $92.00 price objective on CVS Health in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.38.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Trading Down 0.2%

Shares of CVS stock opened at $82.30 on Wednesday. The company has a market cap of $104.39 billion, a P/E ratio of 22.99, a PEG ratio of 0.91 and a beta of 0.60. The stock has a 50 day simple moving average of $76.05 and a two-hundred day simple moving average of $68.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $83.74.

CVS Health (NYSE:CVS) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

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.