TSG Advice Partners LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,324 shares of the pharmacy operator’s stock, valued at approximately $628,000.
A number of other institutional investors also recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its stake in shares of CVS Health by 83.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,089,694 shares of the pharmacy operator’s stock worth $112,729,000 after buying an additional 496,124 shares in the last quarter. BNP Paribas boosted its stake in CVS Health by 105.2% during the second quarter. BNP Paribas now owns 49,971 shares of the pharmacy operator’s stock valued at $5,154,000 after buying an additional 25,617 shares in the last quarter. Nykredit A S bought a new position in CVS Health during the second quarter valued at about $209,813,000. Oppenheimer Asset Management Inc. acquired a new position in CVS Health during the second quarter worth about $49,622,000. Finally, Bank of America Corp DE grew its holdings in CVS Health by 148.0% during the second quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock worth $2,398,868,000 after acquiring an additional 13,836,701 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CVS. Cantor Fitzgerald reiterated a “neutral” rating on shares of CVS Health in a research report on Friday, October 9th. UBS Group restated a “buy” rating on shares of CVS Health in a research report on Tuesday, September 22nd. Barclays lifted their price objective on shares of CVS Health from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. HSBC reiterated a “hold” rating and issued a $103.00 target price on shares of CVS Health in a report on Monday, July 6th. Finally, Piper Sandler set a $112.00 target price on shares of CVS Health in a research note on Wednesday, September 9th. Nineteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.64.
Check Out Our Latest Research Report on CVS Health
CVS Health Trading Down 1.9%
CVS Health stock opened at $88.54 on Tuesday. CVS Health Corporation has a 52 week low of $69.51 and a 52 week high of $110.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. The firm has a market capitalization of $113.24 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 0.84 and a beta of 0.60. The company has a 50 day moving average price of $91.13 and a 200 day moving average price of $88.80.
CVS Health (NYSE:CVS – Get Free Report) last announced its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.71. The company had revenue of $106.10 billion for the quarter, compared to the consensus estimate of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Research analysts forecast that CVS Health Corporation will post 8.02 EPS for the current year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were given a dividend of $0.6650 per share. This represents a $2.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 22nd. CVS Health’s payout ratio is presently 70.37%.
About CVS Health
CVS Health Corporation (NYSE: CVS) is a diversified health care company that provides pharmacy, insurance and health services in the United States. Its businesses serve consumers, employers, health plans and health care providers through pharmacies, benefit programs, insurance coverage and clinical care services.
The company’s Pharmacy Services segment, led by CVS Caremark, manages prescription drug benefits for employers, insurers and government programs. CVS Pharmacy operates retail pharmacies and health-focused stores that dispense prescriptions and offer over-the-counter products, health and wellness merchandise, immunizations and related services.
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