Police & Firemen s Retirement System of New Jersey Buys 6,342 Shares of CVS Health Corporation $CVS

Police & Firemen s Retirement System of New Jersey grew its stake in CVS Health Corporation (NYSE:CVS) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,209 shares of the pharmacy operator’s stock after acquiring an additional 6,342 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in CVS Health were worth $13,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in CVS Health by 38.2% in the first quarter. Larson Financial Group LLC now owns 4,126 shares of the pharmacy operator’s stock valued at $280,000 after purchasing an additional 1,141 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in shares of CVS Health in the 1st quarter valued at $247,000. Summit X LLC bought a new stake in shares of CVS Health in the 1st quarter valued at $231,000. Allen Capital Group LLC acquired a new stake in CVS Health during the 1st quarter worth $369,000. Finally, Legacy Capital Wealth Partners LLC bought a new position in CVS Health during the first quarter worth about $283,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVS shares. Raymond James Financial increased their price target on CVS Health from $75.00 to $90.00 in a report on Friday, October 31st. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Wells Fargo & Company dropped their target price on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday. Sanford C. Bernstein upped their price target on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Finally, Barclays raised their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $79.32 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The stock has a market capitalization of $100.69 billion, a P/E ratio of 208.74, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a 50 day moving average of $77.61 and a 200-day moving average of $69.81.

CVS Health (NYSE:CVS) last announced 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. The business had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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

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.