Versor Investments LP Boosts Stake in CVS Health Corporation $CVS

Versor Investments LP lifted its holdings in CVS Health Corporation (NYSE:CVS) by 168.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,493 shares of the pharmacy operator’s stock after purchasing an additional 34,193 shares during the quarter. CVS Health accounts for about 0.7% of Versor Investments LP’s investment portfolio, making the stock its 12th biggest holding. Versor Investments LP’s holdings in CVS Health were worth $3,759,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after acquiring an additional 6,615 shares during the last quarter. Cerity Partners LLC increased its position in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after acquiring an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its position in CVS Health by 2.1% during the first 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 acquiring an additional 183,813 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in 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 valued at $231,808,000 after acquiring an additional 572,533 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CVS shares. Piper Sandler upped their price objective on CVS Health from $81.00 to $99.00 in a research report on Friday. Wall Street Zen cut CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group started coverage on CVS Health in a research report on Tuesday, October 14th. They set a “buy” rating and a $91.00 price objective for the company. Wells Fargo & Company upped their price objective on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, UBS Group upped their price target on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $87.64.

CVS Health Stock Performance

NYSE:CVS opened at $78.13 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The stock has a 50-day moving average price of $76.49 and a 200 day moving average price of $69.04. The stock has a market capitalization of $99.18 billion, a P/E ratio of 205.61, a P/E/G ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 700.00%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is owned by corporate insiders.

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.