Cercano Management LLC Takes Position in CVS Health Corporation $CVS

Cercano Management LLC acquired a new stake in CVS Health Corporation (NYSE:CVS) during the second quarter, Holdings Channel reports. The fund acquired 3,382 shares of the pharmacy operator’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Hazlett Burt & Watson Inc. grew 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 worth $117,000 after purchasing an additional 165 shares during the period. Williams Financial LLC lifted its position in CVS Health by 2.5% in the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after buying an additional 167 shares during the last quarter. Hemington Wealth Management boosted its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares during the period. GW&K Investment Management LLC raised its stake in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after acquiring an additional 180 shares during the period. Finally, Sunpointe LLC lifted its holdings in shares of CVS Health by 4.0% in the 2nd quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock worth $328,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVS. Evercore ISI boosted their target price on CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wolfe Research increased their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Barclays raised their target price on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Jefferies Financial Group boosted their price target on shares of CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Finally, 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 note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Price Performance

CVS stock opened at $77.86 on Friday. The business’s 50-day moving average is $77.70 and its two-hundred day moving average is $69.93. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market capitalization of $98.84 billion, a P/E ratio of 204.90, a P/E/G ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. The firm had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction 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 transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

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.