Federation des caisses Desjardins du Quebec Buys 18,120 Shares of CVS Health Corporation $CVS

Federation des caisses Desjardins du Quebec grew its holdings in shares of CVS Health Corporation (NYSE:CVS) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 992,585 shares of the pharmacy operator’s stock after acquiring an additional 18,120 shares during the period. Federation des caisses Desjardins du Quebec owned 0.08% of CVS Health worth $67,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Saudi Central Bank purchased a new stake in shares of CVS Health during the 1st quarter worth approximately $34,000. Costello Asset Management INC increased its position in shares of CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 422 shares during the period. Stone House Investment Management LLC purchased a new stake in CVS Health in the first quarter worth about $39,000. GW&K Investment Management LLC grew its holdings in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after purchasing an additional 180 shares during the period. Finally, Hemington Wealth Management grew its holdings in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after purchasing an additional 172 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Guy P. Sansone bought 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares of the company’s stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

CVS opened at $73.17 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a fifty day moving average price of $66.12 and a 200 day moving average price of $65.78. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $73.23. The stock has a market cap of $92.80 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.81 and a beta of 0.62.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (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 analysts’ expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate 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 Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health’s payout ratio is presently 74.30%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVS shares. Morgan Stanley upped their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $77.56.

CVS Health Company 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.