S&T Bank PA Decreases Stake in CVS Health Corporation $CVS

S&T Bank PA lessened its stake in CVS Health Corporation (NYSE:CVS) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,547 shares of the pharmacy operator’s stock after selling 4,312 shares during the quarter. S&T Bank PA’s holdings in CVS Health were worth $5,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avion Wealth boosted its stake in shares of CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in CVS Health during the second quarter worth $30,000. Bell Investment Advisors Inc grew its holdings in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC increased its position in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares in the last quarter. Finally, ORG Partners LLC raised its stake in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS opened at $78.80 on Friday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The firm has a market cap of $100.03 billion, a PE ratio of 207.37, a P/E/G ratio of 0.87 and a beta of 0.60. 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 business has a fifty day simple moving average of $77.04 and a 200-day simple moving average of $69.33.

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, topping the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business had revenue of $102.87 billion for the quarter, compared to the consensus estimate of $98.85 billion. During the same period last year, the firm posted $1.09 earnings per share. The firm’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 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid 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 dividend payout ratio is currently 700.00%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Leerink Partners upped their price target on shares of CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Mizuho upped their price objective on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Truist Financial reissued a “buy” rating and issued a $95.00 target price (up previously from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Royal Bank Of Canada lifted their price target on shares of CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.82.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated 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 $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

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.