Geode Capital Management LLC Boosts Stock Position in CVS Health Corporation $CVS

by · The Cerbat Gem

Geode Capital Management LLC grew its holdings in shares of CVS Health Corporation (NYSE:CVS – Free Report) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,635,233 shares of the pharmacy operator’s stock after buying an additional 675,824 shares during the period. Geode Capital Management LLC’s holdings in CVS Health were worth $1,966,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avion Wealth boosted its holdings in CVS Health by 99.0% in the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in CVS Health during the second quarter worth approximately $30,000. Bell Investment Advisors Inc boosted its holdings in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC raised its stake in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of research reports. Barclays raised their price target on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Evercore ISI lifted their target price on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group increased their price target on shares of CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Raymond James Financial lifted their price objective on shares of CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Finally, Mizuho increased their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.45.

Check Out Our Latest Analysis on CVS

CVS Health Stock Performance

Shares of CVS stock opened at $80.44 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The company has a market cap of $102.11 billion, a price-to-earnings ratio of 211.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The stock has a 50 day simple moving average of $77.50 and a 200-day simple moving average of $69.74.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.3%. CVS Health’s dividend payout ratio (DPR) is 700.00%.

CVS Health Profile

(Free Report)

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.

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