The Manufacturers Life Insurance Company Has $133.19 Million Position in CVS Health Corporation $CVS

The Manufacturers Life Insurance Company raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,287,441 shares of the pharmacy operator’s stock after purchasing an additional 70,197 shares during the period. The Manufacturers Life Insurance Company’s holdings in CVS Health were worth $133,186,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of CVS Health by 10,133.9% during the 2nd quarter. California State Teachers Retirement System now owns 193,320,429 shares of the pharmacy operator’s stock worth $19,998,998,000 after buying an additional 191,431,405 shares during the period. BlackRock Inc. bought a new position in CVS Health in the 2nd quarter worth $12,747,462,000. State Street Corp raised its holdings in CVS Health by 2.1% in the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock worth $4,776,182,000 after acquiring an additional 1,245,457 shares during the period. Wellington Management Group LLP lifted its position in CVS Health by 49.8% during the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock worth $3,496,725,000 after acquiring an additional 11,233,381 shares during the last quarter. Finally, Capital International Investors boosted its holdings in CVS Health by 3.4% during the fourth quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock valued at $2,189,793,000 after acquiring an additional 900,153 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVS. Wall Street Zen lowered CVS Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. HSBC restated a “hold” rating and set a $103.00 target price on shares of CVS Health in a research note on Monday, July 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a report on Friday. Sanford C. Bernstein reiterated an “outperform” rating and set a $112.00 price target on shares of CVS Health in a report on Wednesday. Finally, Robert W. Baird set a $107.00 price objective on shares of CVS Health in a research note on Thursday, August 6th. Twenty-two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $107.24.

CVS Health Price Performance

Shares of CVS stock opened at $94.62 on Friday. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68. The company has a market capitalization of $121.02 billion, a P/E ratio of 25.03, a P/E/G ratio of 0.93 and a beta of 0.59. The stock has a 50 day moving average of $99.92 and a two-hundred day moving average of $90.77. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. CVS Health’s dividend payout ratio is currently 70.37%.

CVS Health Company Profile

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.