Shorepoint Capital Partners LLC Acquires New Position in CVS Health Corporation $CVS

Shorepoint Capital Partners LLC bought a new position in CVS Health Corporation (NYSE:CVS) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 62,292 shares of the pharmacy operator’s stock, valued at approximately $4,696,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after buying an additional 2,063,737 shares during the last quarter. Dodge & Cox raised its holdings in shares of CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. State Street Corp boosted its position in shares of CVS Health by 1.4% during the 2nd quarter. State Street Corp now owns 58,788,585 shares of the pharmacy operator’s stock valued at $4,055,237,000 after acquiring an additional 800,414 shares during the last quarter. Geode Capital Management LLC increased its position in CVS Health by 2.4% during the second quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock worth $1,966,083,000 after purchasing an additional 675,824 shares during the last quarter. Finally, Invesco Ltd. raised its stake in CVS Health by 15.3% during the second quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock worth $1,623,270,000 after purchasing an additional 3,118,626 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of CVS Health from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research note on Wednesday, December 10th. Wall Street Zen lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company cut their price objective on CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Finally, Wolfe Research increased their target price on shares of CVS Health from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.71.

CVS Health Price Performance

Shares of CVS opened at $79.80 on Tuesday. The firm has a 50-day simple moving average of $79.03 and a 200-day simple moving average of $72.10. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The company has a market capitalization of $101.30 billion, a price-to-earnings ratio of 210.01, a price-to-earnings-growth ratio of 0.78 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the business earned $1.09 EPS. The business’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, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio is 700.00%.

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.