Te Ahumairangi Investment Management Ltd Increases Position in CVS Health Corporation $CVS

Te Ahumairangi Investment Management Ltd lifted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,910 shares of the pharmacy operator’s stock after buying an additional 4,850 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in CVS Health were worth $4,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. raised its position in CVS Health by 1.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after buying an additional 6,615 shares during the last quarter. Brandywine Global Investment Management LLC increased its stake 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 acquiring an additional 572,533 shares during the period. Holderness Investments Co. purchased a new position in CVS Health during the first quarter worth about $300,000. Red Mountain Financial LLC acquired a new stake in CVS Health in the second quarter valued at about $293,000. Finally, Vanguard Group Inc. boosted its holdings in CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after purchasing an additional 969,027 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Piper Sandler boosted their target price on shares of CVS Health from $81.00 to $99.00 in a research report on Friday, October 31st. TD Cowen increased their price target on shares of CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CVS Health in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.41.

CVS Health Price Performance

Shares of NYSE CVS opened at $78.48 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $78.31 and its 200 day moving average price is $70.46. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The stock has a market cap of $99.63 billion, a price-to-earnings ratio of 206.54, a PEG ratio of 0.87 and a beta of 0.60.

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

CVS Health Dividend Announcement

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

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.