Bridge Creek Capital Management LLC Boosts Holdings in CVS Health Corporation $CVS

Bridge Creek Capital Management LLC raised its holdings in CVS Health Corporation (NYSE:CVS) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,070 shares of the pharmacy operator’s stock after purchasing an additional 1,105 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in CVS Health were worth $4,213,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its stake in shares of CVS Health by 69.3% during the 2nd quarter. Diversified Trust Co now owns 7,370 shares of the pharmacy operator’s stock worth $508,000 after acquiring an additional 3,018 shares in the last quarter. International Private Wealth Advisors LLC purchased a new stake in shares of CVS Health in the second quarter valued at approximately $323,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of CVS Health in the second quarter valued at approximately $155,185,000. IFM Investors Pty Ltd grew its stake in shares of CVS Health by 4.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 238,547 shares of the pharmacy operator’s stock valued at $16,455,000 after buying an additional 10,457 shares during the period. Finally, Grove Bank & Trust grew its stake in shares of CVS Health by 30.2% in the 2nd quarter. Grove Bank & Trust now owns 2,162 shares of the pharmacy operator’s stock valued at $149,000 after buying an additional 502 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Sanford C. Bernstein raised their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Morgan Stanley lifted their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Barclays increased their target price on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

CVS Health Price Performance

CVS opened at $74.95 on Friday. The company has a fifty day simple moving average of $67.91 and a 200 day simple moving average of $66.62. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $76.24. The firm has a market cap of $95.06 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.82 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the business posted $1.83 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given 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 yield of 3.5%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Insiders Place Their Bets

In other CVS Health 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 value of $532,650.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

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.