Sumitomo Life Insurance Co. Sells 1,151 Shares of CVS Health Corporation $CVS

Sumitomo Life Insurance Co. lessened its stake in shares of CVS Health Corporation (NYSE:CVS) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,963 shares of the pharmacy operator’s stock after selling 1,151 shares during the period. Sumitomo Life Insurance Co.’s holdings in CVS Health were worth $1,101,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Avion Wealth grew its holdings in CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Harbor Asset Planning Inc. bought a new stake in CVS Health during the second quarter valued at about $30,000. Bell Investment Advisors Inc boosted its stake in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 248 shares during the period. Roxbury Financial LLC boosted its stake in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

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

CVS Health Price Performance

Shares of CVS Health stock opened at $78.13 on Monday. The stock has a 50 day moving average of $76.49 and a 200 day moving average of $69.04. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The firm has a market cap of $99.18 billion, a PE ratio of 205.61, a PEG ratio of 0.87 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly 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 company had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The firm’s 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. On average, research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business 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 dividend of $0.665 per share. The ex-dividend date 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 is 700.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVS. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. The Goldman Sachs Group began coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price objective for the company. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Mizuho upped their price objective on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Raymond James Financial upped their price objective on CVS Health from $75.00 to $90.00 in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.91.

CVS Health Company 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.