McLean Asset Management Corp Has $303,000 Holdings in CVS Health Corporation $CVS

McLean Asset Management Corp cut its position in CVS Health Corporation (NYSE:CVS) by 11.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,546 shares of the pharmacy operator’s stock after selling 581 shares during the quarter. McLean Asset Management Corp’s holdings in CVS Health were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of CVS. Bell Investment Advisors Inc boosted its holdings in CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the period. 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 valued at $32,000 after purchasing an additional 174 shares during the period. Saudi Central Bank bought a new stake in CVS Health in the 1st quarter valued at $34,000. Costello Asset Management INC boosted its holdings in CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 422 shares during the period. Finally, Stone House Investment Management LLC bought a new stake in CVS Health in the 1st quarter valued at $39,000. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 0.4%

CVS opened at $75.00 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $95.12 billion, a PE ratio of 20.95, a PEG ratio of 0.82 and a beta of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $75.55. The firm has a 50-day moving average price of $67.11 and a two-hundred day moving average price of $66.30.

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, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter last year, the company posted $1.83 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health’s payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Zacks Research downgraded shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Morgan Stanley raised their price objective on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

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.