Strs Ohio Grows Position in CVS Health Corporation $CVS

Strs Ohio boosted its holdings in CVS Health Corporation (NYSE:CVS) by 1.7% in the second quarter, HoldingsChannel.com reports. The firm owned 837,532 shares of the pharmacy operator’s stock after buying an additional 14,278 shares during the quarter. Strs Ohio’s holdings in CVS Health were worth $57,773,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its position in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after purchasing an additional 165 shares in the last quarter. Williams Financial LLC lifted its stake in shares of CVS Health by 2.5% during the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management increased its holdings in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

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 transaction of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

CVS Health Trading Down 1.7%

NYSE:CVS opened at $80.80 on Thursday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company has a market cap of $102.48 billion, a PE ratio of 22.57, a P/E/G ratio of 0.91 and a beta of 0.60. The business’s 50 day moving average is $76.25 and its two-hundred day moving average is $68.92.

CVS Health (NYSE:CVS) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $98.85 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.3%. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. UBS Group increased their price target on CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 24th. Wolfe Research upped their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Jefferies Financial Group increased their price objective on shares of CVS Health from $80.00 to $92.00 in a research report on Wednesday, October 15th. Finally, Truist Financial set a $92.00 target price on shares of CVS Health in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

CVS Health 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.