CVS Health Corporation $CVS Shares Sold by Conning Inc.

Conning Inc. lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,929 shares of the pharmacy operator’s stock after selling 325 shares during the quarter. Conning Inc.’s holdings in CVS Health were worth $547,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc raised its holdings in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 248 shares in the last quarter. Roxbury Financial LLC raised its holdings in shares of CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. ORG Partners LLC raised its stake in CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares in the last quarter. Saudi Central Bank acquired a new stake in CVS Health in the first quarter valued at $34,000. Finally, Livelsberger Financial Advisory acquired a new stake in CVS Health in the second quarter valued at $35,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

CVS Health Trading Up 1.5%

NYSE CVS opened at $77.89 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market cap of $98.79 billion, a PE ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.60. CVS Health Corporation has a one year low of $43.56 and a one year high of $79.20. The firm’s fifty day moving average is $72.28 and its two-hundred day moving average is $67.67.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health’s payout ratio is presently 74.30%.

Wall Street Analyst Weigh In

CVS has been the topic of several research analyst reports. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research note on Saturday, September 27th. Finally, Sanford C. Bernstein lifted their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.80.

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.