Sumitomo Life Insurance Co. Acquires Shares of 15,126 CVS Health Corporation $CVS

Sumitomo Life Insurance Co. bought a new position in shares of CVS Health Corporation (NYSE:CVS) in the second quarter, Holdings Channel reports. The institutional investor bought 15,126 shares of the pharmacy operator’s stock, valued at approximately $1,565,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in CVS Health in the 2nd quarter worth about $12,747,462,000. Norges Bank purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $1,666,265,000. Wellington Management Group LLP lifted its position in shares of CVS Health by 193.2% in the fourth quarter. Wellington Management Group LLP now owns 18,564,392 shares of the pharmacy operator’s stock valued at $1,473,270,000 after acquiring an additional 12,233,675 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of CVS Health in the second quarter worth approximately $1,217,558,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of CVS Health during the second quarter worth approximately $932,454,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $93.01 on Friday. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68. The stock has a market cap of $118.96 billion, a PE ratio of 24.61, a P/E/G ratio of 0.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87. The stock has a 50 day moving average price of $102.02 and a 200 day moving average price of $88.86.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.71. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The company had revenue of $106.10 billion during the quarter, compared to analysts’ expectations of $100.03 billion. During the same period in the prior year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Equities research analysts expect that CVS Health Corporation will post 8.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.9%. CVS Health’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada upped their target price on shares of CVS Health from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Morgan Stanley increased their target price on shares of CVS Health from $106.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of CVS Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald boosted their price target on shares of CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Twenty-two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.17.

CVS Health Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.