Candriam S.C.A. Sells 5,703 Shares of CVS Health Corporation $CVS

Candriam S.C.A. trimmed its holdings in shares of CVS Health Corporation (NYSE:CVS) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 228,388 shares of the pharmacy operator’s stock after selling 5,703 shares during the period. Candriam S.C.A.’s holdings in CVS Health were worth $15,755,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey increased its holdings in CVS Health by 3.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 190,209 shares of the pharmacy operator’s stock worth $13,121,000 after buying an additional 6,342 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 2.4% in the second quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock worth $1,966,083,000 after acquiring an additional 675,824 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of CVS Health by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 568,176 shares of the pharmacy operator’s stock worth $39,193,000 after acquiring an additional 8,407 shares during the period. Tobam purchased a new position in shares of CVS Health during the second quarter valued at approximately $341,000. Finally, Jupiter Asset Management Ltd. bought a new position in CVS Health during the second quarter valued at approximately $7,512,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.2%

CVS stock opened at $79.32 on Friday. The business’s 50-day moving average price is $77.61 and its 200-day moving average price is $69.81. The stock has a market cap of $100.69 billion, a P/E ratio of 208.74, a PEG ratio of 0.87 and a beta of 0.60. 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 Corporation has a twelve month low of $43.56 and a twelve month high of $85.15.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared 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. 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 currently 700.00%.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CVS. Wolfe Research boosted their target price on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Cantor Fitzgerald increased their price objective on shares of CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $89.41.

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.