CVS Health Corporation $CVS Shares Sold by Birch Capital Management LLC

Birch Capital Management LLC trimmed its position in shares of CVS Health Corporation (NYSE:CVS) by 5.7% in the second quarter, Holdings Channel.com reports. The firm owned 4,138 shares of the pharmacy operator’s stock after selling 249 shares during the period. Birch Capital Management LLC’s holdings in CVS Health were worth $285,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI grew its holdings in CVS Health by 19.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 64,971 shares of the pharmacy operator’s stock valued at $4,482,000 after purchasing an additional 10,795 shares in the last quarter. Argyle Capital Management LLC raised its holdings in shares of CVS Health by 0.7% during the second quarter. Argyle Capital Management LLC now owns 30,417 shares of the pharmacy operator’s stock worth $2,098,000 after purchasing an additional 200 shares during the period. IFP Advisors Inc raised its holdings in shares of CVS Health by 3.7% during the second quarter. IFP Advisors Inc now owns 24,118 shares of the pharmacy operator’s stock worth $1,664,000 after purchasing an additional 862 shares during the period. Callan Family Office LLC raised its holdings in shares of CVS Health by 277.8% during the second quarter. Callan Family Office LLC now owns 121,108 shares of the pharmacy operator’s stock worth $8,354,000 after purchasing an additional 89,053 shares during the period. Finally, Blair William & Co. IL increased its holdings in shares of CVS Health by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 62,052 shares of the pharmacy operator’s stock worth $4,280,000 after acquiring an additional 525 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Sanford C. Bernstein raised their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

CVS Health Stock Performance

Shares of CVS opened at $76.78 on Friday. The company has a 50-day moving average of $71.98 and a two-hundred day moving average of $67.59. 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 stock has a market cap of $97.38 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a one year low of $43.56 and a one year high of $79.20.

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

CVS Health Announces Dividend

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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by company insiders.

About CVS Health

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.