Journey Strategic Wealth LLC Takes Position in CVS Health Corporation $CVS

Journey Strategic Wealth LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,839 shares of the pharmacy operator’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in CVS Health by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after buying an additional 2,063,737 shares during the period. Dodge & Cox raised its holdings in shares of CVS Health by 4.8% in 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 during the last quarter. Geode Capital Management LLC lifted its position in CVS Health by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock worth $1,966,083,000 after buying an additional 675,824 shares in the last quarter. Invesco Ltd. boosted its position in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of CVS Health by 14.5% in 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 buying an additional 1,942,886 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 0.2%

NYSE:CVS opened at $77.90 on Tuesday. The firm has a fifty day simple moving average of $78.21 and a two-hundred day simple moving average of $70.38. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $98.89 billion, a price-to-earnings ratio of 205.01, a PEG ratio of 0.87 and a beta of 0.60.

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

CVS Health Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CVS. Morgan Stanley boosted their target price on CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. The Goldman Sachs Group began coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target for the company. Wells Fargo & Company decreased their target price on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. UBS Group boosted their price target on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CVS Health in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health 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.