Ensign Peak Advisors Inc Has $40.89 Million Position in CVS Health Corporation $CVS

Ensign Peak Advisors Inc decreased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 41.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 592,709 shares of the pharmacy operator’s stock after selling 416,407 shares during the quarter. Ensign Peak Advisors Inc’s holdings in CVS Health were worth $40,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its position in CVS Health by 242.4% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,904 shares of the pharmacy operator’s stock worth $129,000 after acquiring an additional 1,348 shares during the last quarter. Wedbush Securities Inc. increased its stake in shares of CVS Health by 2.3% during the first quarter. Wedbush Securities Inc. now owns 18,728 shares of the pharmacy operator’s stock worth $1,269,000 after purchasing an additional 425 shares during the period. Pinnacle Associates Ltd. boosted its stake in CVS Health by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 64,293 shares of the pharmacy operator’s stock valued at $4,356,000 after purchasing an additional 388 shares during the period. One Wealth Advisors LLC acquired a new position in CVS Health in the 1st quarter valued at $234,000. Finally, Tempus Wealth Planning LLC bought a new position in CVS Health during the 1st quarter worth $215,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research note on Monday. 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 research report on Thursday, November 13th. Wolfe Research lifted their price target on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Morgan Stanley increased their price target on CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, TD Cowen lifted their price objective on CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Price Performance

CVS Health stock opened at $77.92 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The stock has a market capitalization of $98.91 billion, a P/E ratio of 205.06, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The stock has a fifty day moving average of $78.12 and a 200-day moving average of $70.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. The firm had revenue of $102.87 billion for 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 business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business 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 expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

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.