Concord Asset Management LLC VA Buys Shares of 34,078 CVS Health Corporation $CVS

Concord Asset Management LLC VA bought a new stake in shares of CVS Health Corporation (NYSE:CVS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,078 shares of the pharmacy operator’s stock, valued at approximately $2,351,000.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its stake in CVS Health by 10.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 165 shares in the last quarter. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after buying an additional 166 shares in the last quarter. Williams Financial LLC raised its stake in CVS Health by 2.5% in the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after buying an additional 167 shares in the last quarter. Hemington Wealth Management raised its stake in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after buying an additional 172 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after buying an additional 174 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group raised their price target on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research report on Saturday, September 27th. Wells Fargo & Company lifted their target price on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Sanford C. Bernstein lifted their target price on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $79.80.

CVS Health Price Performance

Shares of CVS opened at $77.89 on Monday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20. The stock’s 50 day moving average is $72.28 and its two-hundred day moving average is $67.67. The firm has a market capitalization of $98.79 billion, a PE ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s payout ratio is 74.30%.

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 sale, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by company insiders.

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.