Transcend Capital Advisors LLC Reduces Stock Holdings in CVS Health Corporation $CVS

Transcend Capital Advisors LLC decreased its stake in CVS Health Corporation (NYSE:CVS) by 32.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,142 shares of the pharmacy operator’s stock after selling 6,240 shares during the quarter. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Avion Wealth boosted its holdings in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after acquiring an additional 189 shares during the period. Harbor Asset Planning Inc. purchased a new position in CVS Health during the 2nd quarter valued at $30,000. Bell Investment Advisors Inc boosted its holdings in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 248 shares during the period. Roxbury Financial LLC boosted its holdings in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Finally, ORG Partners LLC boosted its holdings in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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 transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVS shares. Jefferies Financial Group boosted their price objective on CVS Health from $80.00 to $92.00 in a report on Wednesday, October 15th. Sanford C. Bernstein upped their target price on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Wells Fargo & Company upped their target price on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. The Goldman Sachs Group assumed coverage on CVS Health in a report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 target price for the company. Finally, Barclays upped their target price on 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 have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.38.

CVS Health Trading Down 0.2%

CVS opened at $82.30 on Wednesday. The firm has a market cap of $104.39 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.91 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $83.74. The stock has a fifty day moving average price of $76.05 and a 200-day moving average price of $68.84.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

CVS Health Profile

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.