S&T Bank PA Cuts Stake in CVS Health Corporation $CVS

S&T Bank PA lowered its holdings in CVS Health Corporation (NYSE:CVS) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,547 shares of the pharmacy operator’s stock after selling 4,312 shares during the quarter. S&T Bank PA’s holdings in CVS Health were worth $5,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after buying an additional 4,632,530 shares during the last quarter. Dodge & Cox raised its position in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Nuveen LLC purchased a new stake in CVS Health in the 1st quarter worth approximately $204,421,000. Invesco Ltd. grew its stake in shares of CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of CVS Health by 815.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock valued at $183,701,000 after purchasing an additional 2,372,121 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.3%

CVS Health stock opened at $78.80 on Friday. The firm has a market capitalization of $100.03 billion, a P/E ratio of 207.37, a P/E/G ratio of 0.87 and a beta of 0.60. The stock’s fifty day simple moving average is $77.04 and its 200-day simple moving average is $69.33. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. 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 (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion for the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the prior year, the business earned $1.09 EPS. CVS Health’s revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Analyst Upgrades and Downgrades

CVS has been the subject of a number of analyst reports. Raymond James Financial upped their price objective on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Evercore ISI upped their price objective on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Morgan Stanley increased their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Sanford C. Bernstein upped their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Finally, Piper Sandler boosted their price objective on CVS Health from $81.00 to $99.00 in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.82.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the business’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 value of $532,650.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.22% of the stock is currently owned by corporate 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.