Cidel Asset Management Inc. Increases Stock Position in CVS Health Corporation $CVS

Cidel Asset Management Inc. boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,883 shares of the pharmacy operator’s stock after buying an additional 320 shares during the period. Cidel Asset Management Inc.’s holdings in CVS Health were worth $2,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after acquiring an additional 969,027 shares during the last quarter. Dodge & Cox increased its position in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of CVS Health by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after purchasing an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after buying an additional 728,924 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 1.6%

Shares of NYSE:CVS opened at $82.64 on Friday. 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 Corporation has a 12-month low of $43.56 and a 12-month high of $82.88. The business has a 50 day moving average of $74.00 and a two-hundred day moving average of $68.12. The company has a market capitalization of $104.81 billion, a PE ratio of 23.08, a PEG ratio of 0.91 and a beta of 0.60.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health’s dividend payout ratio is 74.30%.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated 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 directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Wolfe Research raised their price objective on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Leerink Partners upped their target price on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays raised their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Morgan Stanley upped their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.57.

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.