Crestwood Advisors Group LLC Lowers Stake in CVS Health Corporation $CVS

Crestwood Advisors Group LLC lessened its holdings in CVS Health Corporation (NYSE:CVS) by 9.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,165 shares of the pharmacy operator’s stock after selling 1,868 shares during the quarter. Crestwood Advisors Group LLC’s holdings in CVS Health were worth $1,253,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVS. NewSquare Capital LLC increased its position in CVS Health by 4.6% during the 2nd quarter. NewSquare Capital LLC now owns 111,518 shares of the pharmacy operator’s stock valued at $7,595,000 after buying an additional 4,854 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of CVS Health in the second quarter worth $2,173,000. Wellington Shields Capital Management LLC increased its holdings in shares of CVS Health by 3.6% during the second quarter. Wellington Shields Capital Management LLC now owns 7,153 shares of the pharmacy operator’s stock valued at $493,000 after acquiring an additional 250 shares in the last quarter. BCGM Wealth Management LLC raised its position in shares of CVS Health by 2.5% in the 2nd quarter. BCGM Wealth Management LLC now owns 27,263 shares of the pharmacy operator’s stock worth $1,881,000 after purchasing an additional 668 shares during the last quarter. Finally, Versor Investments LP boosted its stake in CVS Health by 168.4% in the 2nd quarter. Versor Investments LP now owns 54,493 shares of the pharmacy operator’s stock worth $3,759,000 after purchasing an additional 34,193 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $78.80 on Friday. The stock has a market capitalization of $100.03 billion, a price-to-earnings ratio of 207.37, a PEG ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. The business’s fifty day moving average price is $77.04 and its 200-day moving average price is $69.33.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.CVS Health’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s payout ratio is 700.00%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Zacks Research downgraded shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. TD Cowen boosted their price objective on shares of CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial reiterated a “buy” rating and set a $95.00 target price (up from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Finally, Leerink Partners boosted their price target on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Two equities research 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.82.

About CVS Health

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.