Nomura Asset Management Co. Ltd. Sells 224,269 Shares of CVS Health Corporation $CVS

Nomura Asset Management Co. Ltd. lowered its holdings in shares of CVS Health Corporation (NYSE:CVS) by 19.8% during the second quarter, Holdings Channel reports. The institutional investor owned 908,051 shares of the pharmacy operator’s stock after selling 224,269 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CVS Health were worth $62,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Avion Wealth boosted its position in shares of CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in CVS Health in the second quarter worth about $30,000. Bell Investment Advisors Inc lifted its stake in CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 248 shares during the period. Roxbury Financial LLC boosted its holdings in CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CVS. UBS Group raised their target price on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research note on Tuesday, November 11th. Wells Fargo & Company lowered their target price on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, TD Cowen lifted their price target on shares of CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.41.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Price Performance

Shares of CVS stock opened at $78.24 on Tuesday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The stock has a market capitalization of $99.32 billion, a PE ratio of 205.89, a PEG ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s fifty day moving average is $77.86 and its 200-day moving average is $70.02.

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

CVS Health Dividend Announcement

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

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.