NJ State Employees Deferred Compensation Plan Sells 14,000 Shares of CVS Health Corporation $CVS

NJ State Employees Deferred Compensation Plan decreased its holdings in CVS Health Corporation (NYSE:CVS) by 32.0% in the second quarter, Holdings Channel reports. The fund owned 29,766 shares of the pharmacy operator’s stock after selling 14,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in CVS Health were worth $2,053,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake in CVS Health by 10.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after purchasing an additional 165 shares during the last quarter. Williams Financial LLC lifted its stake in CVS Health by 2.5% in the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management lifted its stake in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after purchasing an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after purchasing an additional 174 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the business’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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

Shares of CVS stock opened at $78.17 on Wednesday. The firm has a market cap of $99.23 billion, a price-to-earnings ratio of 205.71, a PEG ratio of 0.87 and a beta of 0.60. The company’s 50 day moving average is $76.77 and its 200 day moving average is $69.20. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating the consensus estimate of $1.36 by $0.24. The business had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s payout ratio is 700.00%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Piper Sandler lifted their price target on shares of CVS Health from $81.00 to $99.00 in a research note on Friday, October 31st. Cantor Fitzgerald lifted their price target on shares of CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wells Fargo & Company lifted their price target on shares of CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $88.82.

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.