CVS Health Corporation $CVS Shares Sold by Curbstone Financial Management Corp

Curbstone Financial Management Corp reduced its position in CVS Health Corporation (NYSE:CVS) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,478 shares of the pharmacy operator’s stock after selling 1,250 shares during the quarter. Curbstone Financial Management Corp’s holdings in CVS Health were worth $1,068,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ariston Services Group raised its stake in CVS Health by 13.1% in the 2nd quarter. Ariston Services Group now owns 4,546 shares of the pharmacy operator’s stock valued at $314,000 after purchasing an additional 528 shares during the last quarter. Kanawha Capital Management LLC acquired a new position in CVS Health in the 2nd quarter valued at $216,000. Chevy Chase Trust Holdings LLC raised its stake in CVS Health by 0.9% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 681,685 shares of the pharmacy operator’s stock valued at $47,023,000 after purchasing an additional 6,368 shares during the last quarter. Praxis Investment Management Inc. raised its stake in CVS Health by 7.0% in the 2nd quarter. Praxis Investment Management Inc. now owns 36,604 shares of the pharmacy operator’s stock valued at $2,525,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Harbor Asset Planning Inc. acquired a new position in CVS Health in the 2nd quarter valued at $30,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Wolfe Research increased their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Truist Financial set a $92.00 target price on CVS Health in a research note on Tuesday. Wells Fargo & Company raised their target price on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Bernstein Bank cut their target price 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 investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.57.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the business’s 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 directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $82.64 on Friday. The business has a 50-day moving average of $74.00 and a 200 day moving average of $68.12. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $82.88. The stock has a market capitalization of $104.81 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter last year, the business posted $1.83 EPS. The business’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, sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s payout ratio is presently 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.