L.M. Kohn & Company Grows Stock Holdings in CVS Health Corporation $CVS

L.M. Kohn & Company raised its position in CVS Health Corporation (NYSE:CVS) by 9.9% during the second quarter, Holdings Channel.com reports. The fund owned 4,228 shares of the pharmacy operator’s stock after purchasing an additional 381 shares during the quarter. L.M. Kohn & Company’s holdings in CVS Health were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Goldman Sachs Group Inc. increased its position in shares of CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after buying an additional 4,632,530 shares during the period. Dodge & Cox increased its position 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 buying an additional 3,353,223 shares during the period. Nuveen LLC purchased a new position in shares of CVS Health during the first quarter valued at about $204,421,000. Invesco Ltd. increased its position 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 buying an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of CVS Health by 815.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock valued at $183,701,000 after buying an additional 2,372,121 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Price Performance

Shares of CVS opened at $80.80 on Thursday. The stock has a market cap of $102.48 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. 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 $85.15. The firm’s 50-day simple moving average is $76.25 and its two-hundred day simple moving average is $68.92.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $102.87 billion for the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio is presently 74.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Truist Financial set a $92.00 price target on shares of CVS Health in a research report on Tuesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Jefferies Financial Group boosted their price target on shares of CVS Health from $80.00 to $92.00 in a research report on Wednesday, October 15th. Barclays upped their price objective 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. Finally, Robert W. Baird upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Two 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.38.

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.