Mitsubishi UFJ Asset Management UK Ltd. Increases Stock Position in CVS Health Corporation $CVS

Mitsubishi UFJ Asset Management UK Ltd. increased its position in shares of CVS Health Corporation (NYSE:CVS) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the pharmacy operator’s stock after buying an additional 3,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in CVS Health were worth $1,449,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Jennison Associates LLC boosted its holdings in CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC raised its position in shares of CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after buying an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in shares of CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after buying an additional 572,533 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of CVS Health by 122.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock worth $38,289,000 after buying an additional 311,098 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.3%

NYSE CVS opened at $75.31 on Wednesday. The firm’s 50 day moving average price is $69.70 and its two-hundred day moving average price is $67.13. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $77.34. The stock has a market cap of $95.52 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.83 and a beta of 0.62.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during 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%.CVS Health’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. CVS Health’s payout ratio 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. Corporate insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Morgan Stanley boosted their price objective on CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Wolfe Research lifted their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Barclays upped their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Two equities 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 company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.25.

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.