Morningstar Investment Management LLC Makes New Investment in CVS Health Corporation $CVS

Morningstar Investment Management LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,510 shares of the pharmacy operator’s stock, valued at approximately $449,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc raised its position in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC raised its position in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares in the last quarter. ORG Partners LLC raised its position in shares of CVS Health by 418.9% during the 2nd 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 purchased a new stake in shares of CVS Health during the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Mizuho lifted their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Sanford C. Bernstein lifted their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Wolfe Research lifted their target price on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.05.

CVS Health Price Performance

Shares of CVS Health stock opened at $79.67 on Wednesday. The company’s fifty day simple moving average is $72.95 and its two-hundred day simple moving average is $67.83. The firm has a market cap of $101.05 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.94.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. 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. As a group, equities analysts expect that CVS Health Corporation will post 5.89 EPS 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 paid 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 dividend yield of 3.3%. CVS Health’s payout ratio is presently 74.30%.

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.