Cinctive Capital Management LP Purchases Shares of 166,290 CVS Health Corporation $CVS

Cinctive Capital Management LP purchased a new stake in shares of CVS Health Corporation (NYSE:CVS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 166,290 shares of the pharmacy operator’s stock, valued at approximately $11,266,000. CVS Health accounts for approximately 0.9% of Cinctive Capital Management LP’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares during the period. Saudi Central Bank purchased a new stake in CVS Health in the 1st quarter worth about $34,000. Costello Asset Management INC raised its position in CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC purchased a new stake in CVS Health in the 1st quarter worth about $39,000. Finally, Park Square Financial Group LLC purchased a new stake in CVS Health in the 4th quarter worth about $43,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVS shares. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Barclays set a $87.00 target price on shares of CVS Health and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Finally, Bernstein Bank decreased their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $77.94.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Down 1.0%

CVS opened at $73.34 on Thursday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $74.53. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a fifty day moving average of $66.39 and a two-hundred day moving average of $65.89. The stock has a market capitalization of $93.01 billion, a price-to-earnings ratio of 20.48, a PEG 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 for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. 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 expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend yield of 3.6%. CVS Health’s dividend payout ratio (DPR) is 74.30%.

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.