Ibex Wealth Advisors Purchases New Holdings in CVS Health Corporation $CVS

Ibex Wealth Advisors purchased a new position in CVS Health Corporation (NYSE:CVS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,883 shares of the pharmacy operator’s stock, valued at approximately $1,447,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CVS Health during the 2nd quarter valued at $12,747,462,000. State Street Corp boosted its holdings in CVS Health by 26.3% in the 2nd quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock worth $7,751,205,000 after buying an additional 15,604,883 shares during the period. Wellington Management Group LLP increased its stake in CVS Health by 49.8% in 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 buying an additional 11,233,381 shares in the last quarter. Bank of America Corp DE increased its stake in CVS Health by 148.0% in the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock worth $2,398,868,000 after buying an additional 13,836,701 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new stake in CVS Health during the second quarter valued at about $1,217,558,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Recent CVS Health Headlines

Investors following CVS have been watching these headlines:

• Positive Sentiment: A separation could give the pharmacy business and CVS’s other operations sharper strategic focus and improve capital allocation. Some analysts see potential for the pieces to be worth more separately, though the plan is not expected until 2028. CVS Breakup Won’t Satisfy Washington. It Could Still Work for Wall Street.
• Positive Sentiment: CVS’s recent quarterly results were strong: earnings of $2.09 per share exceeded the $1.65 consensus estimate, while revenue also topped expectations. CVS Beat Earnings by 27% and Split in Two
• Negative Sentiment: Carving out the retail pharmacies could involve significant execution costs and operational risks, leaving uncertainty about whether the restructuring will deliver the anticipated value. Can CVS Health’s 2028 Split Unlock Value Despite Execution Risks?

Insiders Place Their Bets

In other news, EVP Prem Shah acquired 23,855 shares of CVS Health stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $83.89 per share, with a total value of $2,001,195.95. Following the purchase, the executive vice president directly owned 88,516 shares in the company, valued at $7,425,607.24. The trade was a 36.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

CVS Health Price Performance

NYSE CVS traded down $0.42 on Friday, reaching $89.37. The company had a trading volume of 8,018,706 shares, compared to its average volume of 10,976,287. The stock has a market capitalization of $114.34 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.78 and a beta of 0.58. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68. The company has a quick ratio of 0.66, a current ratio of 0.85 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average price is $89.65 and its 200 day moving average price is $89.09.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 4th. The pharmacy operator reported $2.09 EPS for the quarter, beating the consensus estimate of $1.65 by $0.44. The business had revenue of $108.40 billion during the quarter, compared to the consensus estimate of $104.72 billion. CVS Health had a net margin of 2.62% and a return on equity of 13.65%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, equities analysts predict that CVS Health Corporation will post 8.26 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were issued a dividend of $0.6650 per share. This represents a $2.66 annualized dividend and a yield of 3.0%. The ex-dividend date was Thursday, October 22nd. CVS Health’s dividend payout ratio (DPR) is currently 30.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVS shares. Jefferies Financial Group restated a “buy” rating and issued a $103.00 price objective on shares of CVS Health in a research report on Wednesday, November 4th. Wall Street Zen cut CVS Health from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. lifted their target price on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Robert W. Baird set a $107.00 price target on CVS Health in a report on Thursday, August 6th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of CVS Health in a research note on Friday, October 9th. Twenty-three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.54.

CVS Health Company Profile

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.