Value Partners Investments Inc. Trims Stake in CVS Health Corporation $CVS

Value Partners Investments Inc. lowered its holdings in CVS Health Corporation (NYSE:CVS) by 58.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 565,588 shares of the pharmacy operator’s stock after selling 783,833 shares during the quarter. CVS Health accounts for 3.1% of Value Partners Investments Inc.’s holdings, making the stock its 18th largest holding. Value Partners Investments Inc.’s holdings in CVS Health were worth $39,014,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Quadcap Wealth Management LLC grew its position in CVS Health by 17.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 9,417 shares of the pharmacy operator’s stock valued at $423,000 after acquiring an additional 1,374 shares in the last quarter. ProShare Advisors LLC grew its position in CVS Health by 13.0% in the 4th quarter. ProShare Advisors LLC now owns 225,757 shares of the pharmacy operator’s stock valued at $10,134,000 after acquiring an additional 26,054 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in CVS Health in the 4th quarter valued at about $377,000. Rafferty Asset Management LLC grew its position in CVS Health by 11.9% in the 4th quarter. Rafferty Asset Management LLC now owns 142,717 shares of the pharmacy operator’s stock valued at $6,407,000 after acquiring an additional 15,126 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in CVS Health in the 4th quarter valued at about $62,073,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, 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 can be accessed through this link. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CVS. Bernstein Bank reduced their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Wall Street Zen cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Sanford C. Bernstein lifted their price target on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.89.

CVS Health Trading Up 0.4%

NYSE:CVS opened at $75.00 on Friday. The stock’s 50 day moving average price is $67.11 and its 200 day moving average price is $66.32. The company has a market capitalization of $95.12 billion, a PE ratio of 20.95, a P/E/G ratio of 0.82 and a beta of 0.62. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $75.55.

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

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s dividend 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.