Profund Advisors LLC Lowers Holdings in CVS Health Corporation $CVS

Profund Advisors LLC lowered its holdings in CVS Health Corporation (NYSE:CVS) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,155 shares of the pharmacy operator’s stock after selling 1,093 shares during the quarter. Profund Advisors LLC’s holdings in CVS Health were worth $1,114,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVS. Hazlett Burt & Watson Inc. raised its holdings in 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 buying an additional 165 shares during the period. Williams Financial LLC increased its position 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 valued at $478,000 after acquiring an additional 167 shares during the last quarter. Hemington Wealth Management raised its stake in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after acquiring an additional 172 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after acquiring an additional 174 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after purchasing an additional 180 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI upped their price target on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. 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. Raymond James Financial increased their target price on CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Mizuho lifted their target price on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, TD Cowen boosted their price target on shares of CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.45.

CVS Health Stock Performance

Shares of CVS Health stock opened at $79.73 on Wednesday. The business has a 50-day simple moving average of $77.36 and a 200-day simple moving average of $69.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15. The company has a market cap of $101.22 billion, a PE ratio of 209.83, a P/E/G ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced 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 3.3%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s dividend payout ratio is 700.00%.

Insiders Place Their Bets

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 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 currently owned by corporate insiders.

CVS Health Company 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.