Stevens Capital Management LP Invests $511,000 in CVS Health Corporation $CVS

Stevens Capital Management LP acquired a new stake in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 7,407 shares of the pharmacy operator’s stock, valued at approximately $511,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in CVS Health by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock valued at $8,305,132,000 after purchasing an additional 2,063,737 shares in the last quarter. Dodge & Cox grew its holdings in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Geode Capital Management LLC grew its stake in CVS Health by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after purchasing an additional 675,824 shares during the last quarter. Invesco Ltd. increased its holdings in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after purchasing an additional 1,942,886 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 2.5%

Shares of CVS Health stock opened at $77.92 on Friday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. 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 company has a market cap of $98.91 billion, a P/E ratio of 205.06, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The firm has a 50-day simple moving average of $78.12 and a two-hundred day simple moving average of $70.28.

CVS Health (NYSE:CVS) last released its quarterly 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. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. CVS Health’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s payout ratio is presently 700.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVS. Wall Street Zen lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Mizuho upped their price objective on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Cantor Fitzgerald increased their price target on CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Finally, The Goldman Sachs Group initiated coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.41.

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.