Rehmann Capital Advisory Group Lowers Position in CVS Health Corporation $CVS

Rehmann Capital Advisory Group cut its position in shares of CVS Health Corporation (NYSE:CVS) by 49.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,233 shares of the pharmacy operator’s stock after selling 10,194 shares during the quarter. Rehmann Capital Advisory Group’s holdings in CVS Health were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its holdings in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 165 shares in the last quarter. Essex Financial Services Inc. lifted its position in CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after acquiring an additional 166 shares during the period. Williams Financial LLC boosted its stake in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after acquiring an additional 167 shares in the last quarter. 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. Finally, Sumitomo Life Insurance Co. increased its stake in shares of CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. Truist Financial set a $92.00 price target on CVS Health in a research report on Tuesday, October 14th. Sanford C. Bernstein lifted their price objective on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Leerink Partners increased their target price on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Finally, Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $82.57.

CVS Health Price Performance

NYSE CVS opened at $81.07 on Friday. CVS Health Corporation has a one year low of $43.56 and a one year high of $83.52. The stock has a 50-day moving average of $75.31 and a 200 day moving average of $68.57. 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 market capitalization of $102.82 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 0.90 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) 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 firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the firm 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. On average, sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio is presently 74.30%.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 sale, the director 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by company insiders.

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.