CVS Health Corporation $CVS Shares Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System raised its position in CVS Health Corporation (NYSE:CVS) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,218,249 shares of the pharmacy operator’s stock after buying an additional 15,480 shares during the period. State Board of Administration of Florida Retirement System’s holdings in CVS Health were worth $84,035,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CVS Health by 1.7% in the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after acquiring an additional 2,063,737 shares during the last quarter. Dodge & Cox lifted its holdings in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $1,966,083,000 after purchasing an additional 675,824 shares during the last quarter. Invesco Ltd. raised its position 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 buying an additional 2,375,764 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in CVS Health by 14.5% during 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 acquiring an additional 1,942,886 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVS. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays lifted their price target on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Leerink Partners raised their price objective on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Wolfe Research raised their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, The Goldman Sachs Group initiated coverage on CVS Health in a report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price objective on the stock. Two 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.com, the company has an average rating of “Moderate Buy” and an average target price of $89.41.

CVS Health Trading Up 1.8%

CVS opened at $79.88 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm has a market cap of $101.40 billion, a P/E ratio of 210.22, a P/E/G ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The business has a fifty day simple moving average of $78.53 and a 200-day simple moving average of $70.59.

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, beating the consensus estimate of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.CVS Health’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s payout ratio is presently 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.