Burney Co. Decreases Position in CVS Health Corporation $CVS

Burney Co. lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175,119 shares of the pharmacy operator’s stock after selling 62,244 shares during the period. Burney Co.’s holdings in CVS Health were worth $12,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. lifted its holdings 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 valued at $117,000 after purchasing an additional 165 shares during the last quarter. Williams Financial LLC lifted its holdings 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 valued at $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management lifted 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 valued at $46,000 after purchasing an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. increased 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 valued at $1,159,000 after acquiring an additional 174 shares during the period. Finally, GW&K Investment Management LLC increased its position in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVS. Cowen reissued a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Royal Bank Of Canada upped their target price on CVS Health from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wolfe Research upped their target price on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, Morgan Stanley lifted their price objective on CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.91.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $78.13 on Monday. 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 0.83 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $99.18 billion, a PE ratio of 205.61, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The stock’s 50-day moving average price is $76.49 and its 200-day moving average price is $69.04.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The firm had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same period last year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is 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%.

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.