Canandaigua National Bank & Trust Co. Takes Position in CVS Health Corporation $CVS

Canandaigua National Bank & Trust Co. acquired a new position in shares of CVS Health Corporation (NYSE:CVS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 36,217 shares of the pharmacy operator’s stock, valued at approximately $3,747,000.

A number of other hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of CVS Health by 4.2% during the 2nd quarter. CoreCap Advisors LLC now owns 3,481 shares of the pharmacy operator’s stock valued at $360,000 after purchasing an additional 139 shares in the last quarter. Howard Financial Services LTD. bought a new stake in CVS Health in the second quarter worth approximately $203,000. Boltwood Capital Management lifted its stake in CVS Health by 7.1% in the second quarter. Boltwood Capital Management now owns 9,407 shares of the pharmacy operator’s stock valued at $973,000 after buying an additional 622 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of CVS Health by 8.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 4,135 shares of the pharmacy operator’s stock worth $428,000 after buying an additional 330 shares in the last quarter. Finally, First County Bank CT acquired a new stake in shares of CVS Health during the 2nd quarter worth approximately $252,000. Institutional investors own 80.66% of the company’s stock.

Trending Headlines about CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Analysts expect another solid quarter, with revenue and earnings growth supported by Aetna initiatives and CVS’s pharmacy-benefit operations. A stronger-than-expected report or guidance upside could provide additional support for CVS Health (CVS). CVS’s Turnaround Faces Its Next Test
• Positive Sentiment: Recent analysis highlights early evidence of Aetna margin improvement, suggesting management’s turnaround plans may be gaining traction. That progress could help sustain the stock’s strong advance over the past year if confirmed in the earnings release. CVS Health Stock Surged On An Aetna Recovery
• Neutral Sentiment: CVS’s AI Learning Academy received two Gold Stevie Awards and one Silver award for employee reskilling, AI workforce innovation, and learning programs. The recognition supports the company’s long-term workforce strategy but is unlikely to materially affect near-term earnings. CVS Health earns Stevie Awards
• Negative Sentiment: The stock’s recent gains have raised expectations ahead of earnings. Any renewed concerns about Aetna medical costs, Caremark profitability, or conservative guidance could lead to profit-taking, particularly with shares trading near their 12-month high.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price objective on shares of CVS Health from $94.00 to $106.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. UBS Group raised their price target on shares of CVS Health from $115.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Bank of America lifted their price target on shares of CVS Health from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Truist Financial upped their price objective on shares of CVS Health from $108.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, HSBC reissued a “hold” rating and set a $103.00 price objective on shares of CVS Health in a research report on Monday, July 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.67.

CVS Health Stock Performance

CVS opened at $104.27 on Wednesday. CVS Health Corporation has a 1-year low of $61.35 and a 1-year high of $110.68. The company has a market cap of $133.04 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 1.03 and a beta of 0.61. The company’s fifty day moving average price is $101.96 and its two-hundred day moving average price is $87.43. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $100.43 billion during the quarter, compared to analysts’ expectations of $94.99 billion. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. On average, analysts expect that CVS Health Corporation will post 7.46 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.6%. CVS Health’s dividend payout ratio (DPR) is presently 117.18%.

Insider Transactions at CVS Health

In other CVS Health news, EVP Tilak Mandadi sold 69,551 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the completion of the sale, the executive vice president directly owned 10,133 shares of the company’s stock, valued at approximately $907,714.14. The trade was a 87.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry Robbins sold 1,983,538 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the completion of the sale, the director directly owned 6,213,261 shares of the company’s stock, valued at approximately $586,842,501.45. This trade represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,441,551 shares of company stock valued at $323,703,977 in the last quarter. Company insiders own 0.85% of the company’s stock.

CVS Health Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.