CVS Health Corporation $CVS Shares Purchased by State Street Corp

State Street Corp boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,788,585 shares of the pharmacy operator’s stock after purchasing an additional 800,414 shares during the quarter. State Street Corp owned approximately 4.64% of CVS Health worth $4,055,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FineMark National Bank & Trust raised its holdings in CVS Health by 1.7% in the second quarter. FineMark National Bank & Trust now owns 9,576 shares of the pharmacy operator’s stock valued at $661,000 after acquiring an additional 157 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of CVS Health by 10.9% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after purchasing an additional 165 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of CVS Health by 11.0% in the 2nd quarter. Loomis Sayles & Co. L P now owns 1,674 shares of the pharmacy operator’s stock valued at $115,000 after purchasing an additional 166 shares in the last quarter. Williams Financial LLC grew its stake in shares of 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 purchasing an additional 167 shares in the last quarter. Finally, Sunpointe LLC increased its holdings in CVS Health by 4.0% in the second quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock valued at $328,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Leerink Partners upped their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Jefferies Financial Group raised their price objective on shares of CVS Health from $92.00 to $98.00 in a report on Thursday, October 30th. Robert W. Baird upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CVS Health in a research report on Monday. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.67.

CVS Health Stock Performance

Shares of CVS opened at $78.31 on Wednesday. The company’s 50 day simple moving average is $78.82 and its 200-day simple moving average is $71.59. The firm has a market cap of $99.41 billion, a PE ratio of 206.08, a price-to-earnings-growth ratio of 0.75 and a beta of 0.48. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued 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. The firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. CVS Health’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. 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 EPS for the current 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 given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s payout ratio is 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.