M&G PLC Has $1.26 Million Holdings in CVS Health Corporation $CVS

M&G PLC lessened its stake in shares of CVS Health Corporation (NYSE:CVS) by 66.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,292 shares of the pharmacy operator’s stock after selling 36,779 shares during the quarter. M&G PLC’s holdings in CVS Health were worth $1,262,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. acquired a new stake in shares of CVS Health in the 2nd quarter valued at $7,512,000. National Pension Service lifted its holdings in CVS Health by 23.1% during the 2nd quarter. National Pension Service now owns 3,880,433 shares of the pharmacy operator’s stock valued at $267,672,000 after purchasing an additional 728,036 shares during the last quarter. Simplify Asset Management Inc. boosted its position in CVS Health by 415.8% in the second quarter. Simplify Asset Management Inc. now owns 46,966 shares of the pharmacy operator’s stock valued at $3,240,000 after buying an additional 37,861 shares in the last quarter. Boston Partners bought a new stake in CVS Health during the second quarter worth about $3,324,000. Finally, Weil Company Inc. acquired a new stake in shares of CVS Health during the second quarter worth approximately $200,000. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Evercore ISI boosted their target price on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Royal Bank Of Canada boosted their price objective on CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Wolfe Research increased their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, UBS Group increased their price objective on shares of CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

CVS Health Trading Down 1.2%

Shares of CVS opened at $79.32 on Friday. The stock’s fifty day simple moving average is $77.61 and its 200-day simple moving average is $69.81. The firm has a market capitalization of $100.69 billion, a PE ratio of 208.74, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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. The firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

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.