Voya Investment Management LLC Sells 408,959 Shares of CVS Health Corporation $CVS

Voya Investment Management LLC cut its holdings in CVS Health Corporation (NYSE:CVS) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,463,583 shares of the pharmacy operator’s stock after selling 408,959 shares during the quarter. Voya Investment Management LLC owned 0.19% of CVS Health worth $166,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after acquiring an additional 1,582,257 shares in the last quarter. Cerity Partners LLC lifted its position in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after acquiring an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp lifted its position in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after acquiring an additional 183,813 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after acquiring an additional 572,533 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after acquiring an additional 311,098 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on 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 sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.22% of the stock is owned by company insiders.

CVS Health Trading Up 1.0%

NYSE:CVS opened at $74.70 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a market capitalization of $94.74 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $75.00. The business has a fifty day moving average price of $66.96 and a 200-day moving average price of $66.22.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s dividend payout ratio is 74.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Barclays upped their price objective on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Jefferies Financial Group increased their price target on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 30th. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. Finally, Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.89.

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.