Gateway Investment Advisers LLC Trims Position in CVS Health Corporation $CVS

Gateway Investment Advisers LLC trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 15.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 263,515 shares of the pharmacy operator’s stock after selling 48,948 shares during the period. Gateway Investment Advisers LLC’s holdings in CVS Health were worth $18,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Aaron Wealth Advisors LLC raised its stake in shares of CVS Health by 13.3% during the second quarter. Aaron Wealth Advisors LLC now owns 12,348 shares of the pharmacy operator’s stock worth $852,000 after purchasing an additional 1,448 shares during the last quarter. LifePlan Financial LLC raised its position in CVS Health by 9.9% during the 2nd quarter. LifePlan Financial LLC now owns 20,866 shares of the pharmacy operator’s stock worth $1,439,000 after buying an additional 1,872 shares during the last quarter. St. Louis Financial Planners Asset Management LLC purchased a new position in CVS Health during the 2nd quarter worth $741,000. Key Client Fiduciary Advisors LLC raised its holdings in CVS Health by 9.8% during the second quarter. Key Client Fiduciary Advisors LLC now owns 7,791 shares of the pharmacy operator’s stock worth $537,000 after purchasing an additional 695 shares in the last quarter. Finally, Czech National Bank raised its holdings in CVS Health by 6.8% during the second quarter. Czech National Bank now owns 309,256 shares of the pharmacy operator’s stock worth $21,332,000 after purchasing an additional 19,611 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 sale, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is owned by corporate insiders.

CVS Health Price Performance

Shares of NYSE:CVS opened at $73.46 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company has a market cap of $93.17 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.81 and a beta of 0.62. The business has a fifty day simple moving average of $67.38 and a 200-day simple moving average of $66.43. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $75.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. CVS Health’s payout ratio is currently 74.30%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Bernstein Bank cut their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 16th. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

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.