CVS Health Corporation $CVS Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in CVS Health Corporation (NYSE:CVS) by 56.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,154 shares of the pharmacy operator’s stock after selling 74,861 shares during the period. Engineers Gate Manager LP’s holdings in CVS Health were worth $6,016,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in CVS Health by 10,133.9% during the second quarter. California State Teachers Retirement System now owns 193,320,429 shares of the pharmacy operator’s stock worth $19,998,998,000 after buying an additional 191,431,405 shares during the period. BlackRock Inc. purchased a new position in shares of CVS Health during the second quarter worth approximately $12,747,462,000. State Street Corp increased its holdings in shares of CVS Health by 2.1% in the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after acquiring an additional 1,245,457 shares during the period. Wellington Management Group LLP boosted its stake in CVS Health by 49.8% during the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock worth $3,496,725,000 after purchasing an additional 11,233,381 shares during the period. Finally, Capital International Investors grew its position in CVS Health by 3.4% during the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock worth $2,189,793,000 after purchasing an additional 900,153 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CVS. Weiss Ratings raised shares of CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. UBS Group dropped their price target on CVS Health from $126.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Barclays upped their price objective on CVS Health from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Argus lifted their target price on CVS Health from $104.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen cut CVS Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.24.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $94.62 on Friday. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68. The business has a 50-day moving average of $99.92 and a two-hundred day moving average of $90.77. The firm has a market capitalization of $121.02 billion, a PE ratio of 25.03, a P/E/G ratio of 0.93 and a beta of 0.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, research analysts forecast that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. CVS Health’s dividend payout ratio (DPR) is 70.37%.

CVS Health Company Profile

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.